Banks › Federal Reserve › History › 18 Mar 2026
Federal Reserve: decision of 18 March 2026
The Federal Open Market Committee kept the target range for the federal funds rate at 3-1/2 to 3-3/4 percent.
Decision
hold
- Rate
- 3.75%=3.75%
- Change
- 0 bp
- Vote
- 11–1
- Announced
- 14:00 New York time
Sources
- Statement
- federalreserve.gov/newsevents/pressreleases/mone…
- Minutes
- federalreserve.gov/monetarypolicy/fomcminutes202…
- Press conference
- federalreserve.gov/monetarypolicy/fomcpresconf20…
- Summary of Economic Projections
- federalreserve.gov/monetarypolicy/fomcprojtabl20…
- Recorded
- 18 Mar 2026
- Data
- JSON
What the bank said
The Committee said economic activity had been expanding at a solid pace, job gains had remained low and the unemployment rate had been little changed in recent months.
It said inflation remained somewhat elevated and that the implications of developments in the Middle East for the U.S. economy were uncertain.
Guidance. The Committee said that, in considering the extent and timing of further adjustments to the target range, it would carefully assess incoming data, the evolving outlook and the balance of risks.
“The implications of developments in the Middle East for the U.S. economy are uncertain.”
Dissent
Stephen I. Miran voted against, preferring to lower the target range by 1/4 percentage point.
Before and after
- Previous decision: 28 Jan 2026, held the federal funds rate at 3.75%.
- Next decision: 29 Apr 2026, held the federal funds rate at 3.75%.
- All Federal Reserve decisions and the rate history