BOSTON, MA, March 18, 2026 – The Federal Open Market Committee (FOMC) met today to assess the state of the US economy and monetary policy. In its second meeting of 2026, the FOMC left the Federal Funds Target Rate unchanged at 3.50-3.75%, matching market expectations. Most committee participants shared similar views regarding the balance of risks and the economic outlook. Data releases since the January meeting support the decision. Unemployment has stabilized even with hiring sluggish. Underlying consumer price inflation remains above the Fed’s 2% target. The weaker-than-expected February employment report and the advent of the Iranian conflict have increased the risks to both sides of the mandate and increasingly complicate the economic outlook. The Fed will assess how this new data and incoming data will affect the economy and the balance of risks.

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