Archive. This is the Federal funds target range, decision of 29 Jul 2026 release exactly as published. It is preserved rather than corrected: see the current release.

Economy · Indicator · Archive

Fed funds 3.50–3.75%

Federal funds target range, decision of 29 Jul 2026 · Published 29 Jul 2026

The Fed held rates at 3.50–3.75% on 29 July in a 9–3 vote. All three dissents wanted an increase, not a cut.

The release, in the same format we use for every indicator
Decision	Hold at 3.50–3.75%
Vote	9–3
Dissents	Three presidents preferred a 25 basis point increase.
Why it matters	Dissents in the hawkish direction, with payrolls flat, is an unusual combination — it says the Committee was more worried about inflation than about the labour market.

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Sources

Implementation Note issued July 29, 2026Federal Reserve Board · Jul 29, 2026 · Primary source

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