{
  "data": {
    "id": "federal-reserve-2026-03-18",
    "bank": "federal-reserve",
    "bankName": "Federal Reserve (Federal Open Market Committee)",
    "country": "US",
    "date": "2026-03-18",
    "announceAt": "2026-03-18T18:00:00Z",
    "timezone": "America/New_York",
    "dateStatus": "published",
    "movedFrom": null,
    "rateBefore": 3.75,
    "step": 0.25,
    "calendarSource": "https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm",
    "citation": "FOMC calendar: March 17-18 meeting (SEP meeting); 2 p.m. Eastern per the 2025-2026 schedule release. Statement header: \"For release at 2:00 p.m. EDT\" (UTC-4).",
    "settleSource": {
      "role": "decision-statement",
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      "example": "https://www.federalreserve.gov/newsevents/pressreleases/monetary20260916a.htm",
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    "observed": {
      "at": "2026-03-18T18:00:00Z",
      "rateBefore": 3.75,
      "rateAfter": 3.75,
      "direction": "hold",
      "statement": "https://www.federalreserve.gov/newsevents/pressreleases/monetary20260318a.htm",
      "observed": true
    },
    "page": "https://macroindex.org/bank/federal-reserve/decision/2026-03-18",
    "account": {
      "summary": "The Federal Open Market Committee kept the target range for the federal funds rate at 3-1/2 to 3-3/4 percent.",
      "vote": "11–1",
      "dissent": "Stephen I. Miran voted against, preferring to lower the target range by 1/4 percentage point.",
      "reasons": [
        "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.",
      "quote": "The implications of developments in the Middle East for the U.S. economy are uncertain.",
      "links": [
        {
          "label": "Minutes",
          "url": "https://www.federalreserve.gov/monetarypolicy/fomcminutes20260318.htm"
        },
        {
          "label": "Press conference",
          "url": "https://www.federalreserve.gov/monetarypolicy/fomcpresconf20260318.htm"
        },
        {
          "label": "Summary of Economic Projections",
          "url": "https://www.federalreserve.gov/monetarypolicy/fomcprojtabl20260318.htm"
        }
      ],
      "readFrom": [
        "https://www.federalreserve.gov/newsevents/pressreleases/monetary20260318a.htm"
      ],
      "at": "2026-10-10"
    }
  },
  "meta": {
    "dataset_version": "2026-10-10.30752eb2",
    "built_at": "2026-10-10T18:04:32Z",
    "generated_at": "2026-10-10T20:36:52.078Z",
    "licence": "CC BY 4.0: credit \"Macro Index\" and link to the site",
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}