Financial News: Fed Leaves Interest Rates Unchanged, Three Members Vote

Fed Leaves Interest Rates Unchanged, Three Members Vote For Rate Hike

07/29/2026 - 14:17:00 (RTTNews)

(RTTNews) - In a widely expected move, the Federal Reserve on Wednesday announced that it has once again decided to leave interest rates unchanged following its two-day monetary policy meeting.

The Fed said it decided to maintain the target range for the federal funds rate at 3-1/2 to 3-3/4 percent, keeping rates unchanged for the fifth consecutive meeting.

The vote to leave rates unchanged was not unanimous, however, with Cleveland Fed President Beth Hammack, Minneapolis Fed President Neel Kashkari and Dallas Fed President Lorie Logan preferring to raise rates by a quarter point.

In light of Fed Chairman Kevin Warsh's new approach, the Fed's accompanying statement did not provide any forward guidance about the outlook for rates.

The Fed's statement did note that U.S. economic activity is expanding at a solid pace despite elevated uncertainty due in part to the conflict in the Middle East.

The central bank also said inflation remains elevated relative to its 2 percent goal, in part reflecting supply shocks that have driven price increases in certain sectors, including energy.

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