Federal Reserve issues FOMC statement
The Federal Open Market Committee unanimously raises the federal funds target range by a quarter point to 3-3/4 to 4 percent, saying inflation remains elevated while growth is solid.
First published by the Board of Governors of the Federal Reserve System on 16 September 2026. Public domain; media-contact line omitted; link to the Implementation Note kept; text otherwise unchanged. Not affiliated with or endorsed by the author or the Board of Governors of the Federal Reserve System. Original
The Federal Open Market Committee approved the following statement for release by a 12 – 0 vote:
The Committee decided to raise the target range for the federal funds rate by 1/4 percentage point to 3-3/4 to 4 percent, in support of the Federal Reserve’s dual mandate. The Committee is continuing its policy of maintaining ample reserves in the banking system.
Economic activity is expanding at a solid pace. While uncertainty remains elevated owing, in part, to geopolitical developments, domestic spending has been resilient. Productivity growth is strong, and capital investment is robust. Job gains have kept pace with the workforce, and the unemployment rate has changed little.
Inflation remains elevated. Today’s policy action will support a timelier return to the Committee’s 2 percent goal. The Committee will deliver price stability.
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