The Federal Open Market Committee (FOMC) approved a statement for release on September 16, 2026, following a meeting. The statement was released by a vote of 12 to 0.
The Committee decided to raise the target range for the federal funds rate by 1/4 percentage point. The new target range is set between 3-3/4 and 4 percent. The Committee stated this action is taken in support of the Federal Reserve's dual mandate.
The Committee noted that it is continuing its policy of maintaining ample reserves in the banking system. Regarding the economy, the statement indicated that economic activity is expanding at a solid pace. While uncertainty remains elevated due in part to geopolitical developments, domestic spending has been resilient. The Committee cited strong productivity growth and robust capital investment.
In the labor market, the statement noted that job gains have kept pace with the workforce, and the unemployment rate has changed little. However, the Committee reported that inflation remains elevated. The statement concluded that today's policy action will support a timelier return to the Committee's 2 percent goal and that the Committee will deliver price stability.
