News

Fed Policymakers Suggest Rates May Need to Rise
A majority of Fed officials highlighted that some policy firming would likely become appropriate if inflation were to continue to run persistently above 2%, minutes from the FOMC meeting in April 2026 showed. To address the possibility of rate hikes, "many participants indicated that they would have preferred removing the language from the post-meeting statement that suggested an easing bias regarding the likely direction of the Committee’s future interest rate decisions“. However, several participants highlighted that it would likely be appropriate to lower interest rates once there are clear indications that disinflation is firmly back on track or if solid signs emerge of greater weakness in the labor market. The Fed kept the fed funds rate unchanged at the 3.5%–3.75% target range for a third consecutive meeting in April. The decision was not unanimous, and the 8-4 vote marked the first time since October 1992 that four officials dissented against a FOMC decision.
Published on 2026-05-20

Fed Policymakers Suggest Rates May Need to Rise
A majority of Fed officials highlighted that some policy firming would likely become appropriate if inflation were to continue to run persistently above 2%, minutes from the FOMC meeting in April 2026 showed. To address the possibility of rate hikes, "many participants indicated that they would have preferred removing the language from the post-meeting statement that suggested an easing bias regarding the likely direction of the Committee’s future interest rate decisions“. However, several participants highlighted that it would likely be appropriate to lower interest rates once there are clear indications that disinflation is firmly back on track or if solid signs emerge of greater weakness in the labor market. The Fed kept the fed funds rate unchanged at the 3.5%–3.75% target range for a third consecutive meeting in April. The decision was not unanimous, and the 8-4 vote marked the first time since October 1992 that four officials dissented against a FOMC decision.
Published on 2026-05-20

Fed Policymakers Suggest Rates May Need to Rise
A majority of Fed officials highlighted that some policy firming would likely become appropriate if inflation were to continue to run persistently above 2%, minutes from the FOMC meeting in April 2026 showed. Participants generally judged that the continued elevated inflation readings together with uncertainty related to the duration and economic implications of the Middle East conflict could necessitate maintaining the current policy stance for longer than previously anticipated. However, several participants highlighted that it would likely be appropriate to lower interest rates once there are clear indications that disinflation is firmly back on track or if solid signs emerge of greater weakness in the labor market. The Fed kept the fed funds rate unchanged at the 3.5%–3.75% target range for a third consecutive meeting in April. The decision was not unanimous, and the 8-4 vote marked the first time since October 1992 that four officials dissented against a FOMC decision.
Published on 2026-05-20

Fed Holds Rates Steady for Third Straight Meeting
The Fed kept the federal funds rate unchanged at the 3.5%–3.75% target range for a third consecutive meeting in April 2026, in line with expectations, as policymakers navigate an increasingly complex environment. The central bank reiterated that it will carefully assess incoming data, the evolving outlook, and the balance of risks in determining the appropriate stance of monetary policy, and stands ready to adjust policy as needed if risks emerge that could hinder the achievement of its objectives.
Published on 2026-04-29

Fed Holds Rates Steady for Third Straight Meeting
The Fed kept the federal funds rate unchanged at the 3.5%–3.75% target range for a third consecutive meeting in April 2026, in line with expectations, as policymakers navigate an increasingly complex environment. Policymakers noted that developments in the Middle East are contributing to a high level of uncertainty about the economic outlook. The central bank reiterated that it will carefully assess incoming data, the evolving outlook, and the balance of risks in determining the appropriate stance of monetary policy, and stands ready to adjust policy as needed if risks emerge that could hinder the achievement of its objectives. Meanwhile, Governor Miran voted to lower interest rates by 25bps.
Published on 2026-04-29

Fed Holds Rates Steady for Third Straight Meeting
The Fed kept the federal funds rate unchanged at the 3.5%–3.75% target range for a third consecutive meeting in April 2026, in line with expectations. The decision was not unanimous, with Governor Miran voting to lower interest rates by 25bps and three other objecting the language in the statement that suggested the central bank would eventually resume cutting rates. The 8-4 vote marked the first time since October 1992 that four officials dissented against a Federal Open Market Committee decision. The central bank reiterated that it will carefully assess incoming data, the evolving outlook, and the balance of risks in determining the appropriate stance of monetary policy, and stands ready to adjust policy as needed if risks emerge that could hinder the achievement of its objectives. In addition, the Fed noted that developments in the Middle East are contributing to a high level of uncertainty about the economic outlook.
Published on 2026-04-29

Fed Holds Rates Steady for Third Straight Meeting
The Fed kept the federal funds rate unchanged at the 3.5%–3.75% target range for a third consecutive meeting in April 2026, in line with expectations. The decision was not unanimous, with Governor Miran voting to lower interest rates by 25bps and three other members objecting the language in the statement that suggested the central bank would eventually resume cutting rates. The 8-4 vote marked the first time since October 1992 that four officials dissented against a FOMC decision. The central bank reiterated that it will carefully assess incoming data, the evolving outlook, and the balance of risks in determining the appropriate stance of monetary policy, and stands ready to adjust policy as needed if risks emerge that could hinder the achievement of its objectives. In addition, the Fed noted that developments in the Middle East are contributing to a high level of uncertainty about the economic outlook. Meanwhile, Powell said he will remain Fed governor after his Chair term ends.
Published on 2026-04-29

Fed Holds Rates Steady for Third Straight Meeting
The Fed kept the federal funds rate unchanged at the 3.5%–3.75% target range for a third consecutive meeting in April 2026, in line with expectations. The decision was not unanimous, with Governor Miran voting to lower interest rates by 25bps and three other objected the language in the statement that suggested the central bank would eventually resume cutting rates. The central bank reiterated that it will carefully assess incoming data, the evolving outlook, and the balance of risks in determining the appropriate stance of monetary policy, and stands ready to adjust policy as needed if risks emerge that could hinder the achievement of its objectives. In addition, the Fed noted that developments in the Middle East are contributing to a high level of uncertainty about the economic outlook.
Published on 2026-04-29

Fed Holds Rates Steady for Third Straight Meeting
The Fed kept the federal funds rate unchanged at the 3.5%–3.75% target range for a third consecutive meeting in April 2026, in line with expectations. The decision was not unanimous, with Governor Miran voting to lower interest rates by 25bps and three other members objecting the language in the statement that suggested the central bank would eventually resume cutting rates. The 8-4 vote marked the first time since October 1992 that four officials dissented against a Federal Open Market Committee decision. The central bank reiterated that it will carefully assess incoming data, the evolving outlook, and the balance of risks in determining the appropriate stance of monetary policy, and stands ready to adjust policy as needed if risks emerge that could hinder the achievement of its objectives. In addition, the Fed noted that developments in the Middle East are contributing to a high level of uncertainty about the economic outlook.
Published on 2026-04-29

Fed Holds Rates Steady for Third Straight Meeting
The Fed kept the federal funds rate unchanged at the 3.5%–3.75% target range for a third consecutive meeting in April 2026, in line with expectations, as policymakers navigate an increasingly complex environment.
Published on 2026-04-29

Fed Holds Rates Steady for Third Straight Meeting
The Fed kept the federal funds rate unchanged at the 3.5%–3.75% target range for a third consecutive meeting in April 2026, in line with expectations. The decision was not unanimous, with Governor Miran voting to lower interest rates by 25bps and three other objected the language in the statement that suggested the central bank would eventually resume cutting rates. The 8-4 vote marked the first time since October 1992 that four officials dissented against a Federal Open Market Committee decision. The central bank reiterated that it will carefully assess incoming data, the evolving outlook, and the balance of risks in determining the appropriate stance of monetary policy, and stands ready to adjust policy as needed if risks emerge that could hinder the achievement of its objectives. In addition, the Fed noted that developments in the Middle East are contributing to a high level of uncertainty about the economic outlook.
Published on 2026-04-29

Fed Holds Rates Steady for Third Straight Meeting
The Fed kept the federal funds rate unchanged at the 3.5%–3.75% target range for a third consecutive meeting in April 2026, in line with expectations. The decision was not unanimous, with Governor Miran voting to lower interest rates by 25bps and three other members objecting the language in the statement that suggested the central bank would eventually resume cutting rates. The 8-4 vote marked the first time since October 1992 that four officials dissented against a FOMC decision. The central bank reiterated that it will carefully assess incoming data, the evolving outlook, and the balance of risks in determining the appropriate stance of monetary policy, and stands ready to adjust policy as needed if risks emerge that could hinder the achievement of its objectives. In addition, the Fed noted that developments in the Middle East are contributing to a high level of uncertainty about the economic outlook. Meanwhile, Powell said he will remain Fed governor after his Chair term ends.
Published on 2026-04-29

Fed to Hold Rates Steady
The Fed is widely expected to keep the federal funds rate unchanged at the 3.5%–3.75% target range for a third consecutive meeting in April 2026, as policymakers navigate an increasingly complex environment. The outlook for the rest of the year remains uncertain, with oil prices continuing to rise and inflation picking up due to the energy shock, even as labour market and broader economic indicators remain resilient. Investors will also closely watch policymakers’ assessment of the economic outlook and their guidance on the policy path ahead, particularly whether a rate hike could still be considered, although markets currently expect no changes to rates this year. This meeting could also mark the final one under Fed Chair Powell. The Justice Department said it would halt its criminal investigation into Powell, removing a key obstacle to the Senate’s confirmation of his nominated successor, Kevin Warsh, whose appointment is set for May 15.
Published on 2026-04-29

Fed to Hold Rates Steady, Chair Powell’s Future Eyed
The Fed is widely expected to keep the federal funds rate unchanged at the 3.5%–3.75% target range for a third consecutive meeting in April 2026, as policymakers navigate an increasingly complex environment. The outlook for the rest of the year remains uncertain, with oil prices continuing to rise and inflation picking up due to the energy shock, even as labour market and broader economic indicators remain resilient. Investors will also closely watch policymakers’ assessment of the economic outlook and their guidance on the policy path ahead, particularly whether a rate hike could still be considered, although markets currently expect no changes to rates this year. This meeting could also mark the final one under Fed Chair Powell. The Justice Department said it would halt its criminal investigation into Powell, removing a key obstacle to the Senate’s confirmation of his nominated successor, Kevin Warsh, whose appointment is set for May 15.
Published on 2026-04-29

Fed Signals Openness to Rate Hikes
Some Fed officials favoured a two-sided framing of future rate decisions, highlighting that additional increases could be warranted if inflation persists above target levels, minutes from the last FOMC meeting in March showed. The vast majority of participants judged that upside risks to inflation and downside risks to employment were elevated, and the majority of participants noted that these risks had increased with developments in the Middle East. A prolonged conflict in the Middle East would likely lead to more persistent increases in energy prices and these higher input costs would be more likely to pass through to core inflation. The Fed left the federal funds rate steady at the 3.5%–3.75% target range for a 2nd consecutive meeting in March 2026, in line with expectations. However, policymakers still signaled one reduction in the fed funds rate this year and another in 2027, though the timing remains unclear.
Published on 2026-04-08

Fed Signals Openness to Rate Hikes
Some Fed officials judged that there was a strong case for a two-sided description of the future interest rate decisions in the postmeeting statement, reflecting the possibility that upward adjustments to the target range for the federal funds rate could be appropriate if inflation were to remain at above-target levels, minutes from the last FOMC meeting in March showed. The vast majority of participants judged that upside risks to inflation and downside risks to employment were elevated, and the majority of participants noted that these risks had increased with developments in the Middle East. The Fed left the federal funds rate steady at the 3.5%–3.75% target range for a 2nd consecutive meeting in March 2026, in line with expectations, but policymakers still expect one reduction in the fed funds rate this year and another in 2027.
Published on 2026-04-08

Fed Signals Openness to Rate Hikes
Several Fed officials favoured a two-sided framing of future rate decisions, highlighting that additional increases could be warranted if inflation persists above target levels, minutes from the last FOMC meeting in March showed. The vast majority of participants judged that upside risks to inflation and downside risks to employment were elevated, and the majority of participants noted that these risks had increased with developments in the Middle East. A prolonged conflict in the Middle East would likely lead to more persistent increases in energy prices and these higher input costs would be more likely to pass through to core inflation. The Fed left the federal funds rate steady at the 3.5%–3.75% target range for a 2nd consecutive meeting in March 2026, in line with expectations. However, policymakers still signaled one reduction in the fed funds rate this year and another in 2027, though the timing remains unclear.
Published on 2026-04-08

Fed Leaves Rates Steady
The Federal Reserve left the federal funds rate steady at the 3.5%–3.75% target range for a second consecutive meeting, in line with expectations, as it navigates a challenging environment marked by the risk of an oil shock, persistent inflation, and signs of a softening labor market.
Published on 2026-03-18

Fed Leaves Rates Steady
The Fed left the federal funds rate steady at the 3.5%–3.75% target range for a 2nd consecutive meeting in March 2026, in line with expectations. Policymakers noted that economic activity has been expanding at a solid pace, job gains have remained low while inflation remains somewhat elevated. The implications of the war with Iran are uncertain. Against this backdrop, policymakers still expect one reduction in the fed funds rate this year and another in 2027, the same as in the December projections, though the timing remains unclear. The Fed also revised its GDP growth forecasts higher for both 2026 (2.4% vs 2.3% seen in December) and 2027 (2.3% vs 2%). Unemployment is projected at 4.4% for 2026, unchanged from December and 4.3% for 2027 (revised up from 4.2%). Both PCE and Core PCE inflation are now expected to be higher this year, at 2.7% each, compared with the December projections of 2.4% and 2.5%, respectively. For 2027, both measures have been revised up to 2.2% from 2.1%.
Published on 2026-03-18

Fed Leaves Rates Steady
The Federal Reserve left the federal funds rate steady at the 3.5%–3.75% target range for a second consecutive meeting, in line with expectations, as it navigates a challenging environment marked by the risk of an oil shock, persistent inflation, and signs of a softening labor market. Policymakers noted that available indicators suggest that economic activity has been expanding at a solid pace. Job gains have remained low, and the unemployment rate has been little changed in recent months while inflation remains somewhat elevated. The implications of developments in the Middle East for the US economy are uncertain.
Published on 2026-03-18