Headline Summary
Fed Funds Rate Decision: No action. Fed Funds target range remains at 3.75% - 4.00%
Cumulative Change This Cycle: Up 25 bps
Balance Sheet: No change
Next Meeting Date: December 8-9, 2026
FOMC Statement Summary
Economy: While uncertainty remains elevated, domestic spending has been resilient, productivity growth is strong, and capital investment is robust.
Inflation: Inflation remains elevated. More information will guide the Committee on the policy stance needed to return inflation to 2%.
Labor Market: Job gains have kept pace with the workforce, and the unemployment rate has changed little.
Fed Chair Press Conference Highlights
There’s no soft inflation target. There’s a target of price stability, and it’s 2% as measured by PCE.
While overall financial conditions are tighter, I'm unwilling and unable to call them tight.