On 16 September 2026, the US Federal Reserve unanimously raised the target range for the federal funds rate by 0,25 percentage point — to 3,75–4%.
The decision by the Federal Open Market Committee (FOMC) was taken by a vote of 12 to zero. The statement explicitly says that the measure was adopted in support of the Fed's dual mandate — maximum employment and price stability.
The US economy continues to grow at a confident pace. Domestic spending remains resilient despite geopolitical uncertainty. Productivity growth and business investment look strong, while the unemployment rate has barely changed.
Inflation, meanwhile, remains elevated. According to the regulator's assessment, the rate hike will help return to the 2% target more quickly. The Committee confirmed its intention to maintain sufficient reserves in the banking system.
The decision was made amid pressure from President Donald Trump, who had previously opposed tightening policy. Nevertheless, the FOMC demonstrated its independence by taking the first step to raise the rate in the past three years.
The statement also contains a signal of possible further tightening if inflationary risks do not ease. How will this affect the cost of credit and savings for Americans in the coming months?
The next FOMC meeting is expected at the end of October. Markets have already begun to readjust their expectations for the rate path over the remainder of the year.
