BOSTON, MA, April 29, 2026 – The Federal Open Market Committee (FOMC) met today to assess the state of the US economy and monetary policy. In its third meeting of 2026, the FOMC left the Federal Funds Target Rate unchanged at 3.50-3.75%, matching market expectations. Data released since the March meeting supports the decision. The most recent unemployment rate release declined slightly, and underlying consumer price inflation remains above the Fed’s 2% target. The lack of resolution in the Iranian conflict has increased the risks to both sides of the mandate as oil shocks can stunt growth while raising prices. This increasingly complicates the economic outlook. The Fed left rates unchanged today to assess how this new environment and incoming data will affect the economy and the balance of risks.

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