FOMC meeting (Jun 2026): Fed hints at shift to rate hike

Research evidence excerpt

FOMC meeting (Jun 2026): Fed hints at shift to rate hike

18 June 2026

Figure 1. FOMC statement

16-17 June 2026 28-29 April 2026

The Federal Open Market Committee approved the following In support of its goals, the Committee decided to maintain the target

statement for release by a 12 – 0 vote: range for the federal funds rate at 3‑1/2 to 3‑3/4 percent. In

The Committee decided to maintain the target range for the federal considering the extent and timing of additional adjustments to the

FF rate funds rate at 3-1/2 to 3-3/4 percent, in support of the Federal target range for the federal funds rate, the Committee will carefully

Reserve's dual mandate. assess incoming data, the evolving outlook, and the balance of

risks.

The Committee reaffirmed its policy of maintaining ample reserves

Reinvestment in the banking system.

Economic activity is expanding at a solid pace despite elevated Recent indicators suggest that economic activity has been

uncertainty that owes, in part, to the conflict in the Middle East. expanding at a solid pace. Job gains have remained low, on

Entire Productivity growth and capital investment are strong. Job gains average, and the unemployment rate has been little changed in

experience have kept pace with the workforce, and the unemployment rate has recent months.

changed little.

Inflation remains elevated relative to the Committee's 2 percent Inflation is elevated, in part reflecting the recent increase in global

Price goal, in part reflecting supply shocks that have driven price energy prices.

perception increases in certain sectors, including energy.

Developments in the Middle East are contributing to a high level of

uncertainty about the economic outlook. The Committee is attentive Outlook

to the risks to both sides of its dual mandate.