The Federal Open Market Committee raised the target range for the federal funds rate by a quarter point, to 3.75 to 4 percent, on September 16, 2026. The statement says the vote was 12–0. Data published by the St. Louis Fed show the upper bound at 4 percent from September 17 and the lower bound at 3.75 percent.
In its statement, the committee said economic activity is expanding at a solid pace, domestic spending has been resilient, job gains have kept pace with the workforce, the unemployment rate has changed little, and inflation remains elevated. The committee said the action would support a timelier return to its 2 percent goal, and that it would deliver price stability.