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March 18, 2026US FEDERAL RESERVE MONETARY POLICY At its scheduled Federal Open Market Committee (FOMC) meeting on March 18th, the US Federal Reserve announced that it will hold the target range for the federal funds rate at a range of 3.5% to 3.75%.
The Committee notes that based on available data, growth of economic activity has been expanding at a solid pace. The Committee projects economic growth to be 2.4% in 2026, 2.3% in 2027 and 2.1% in 2028, an upward revision from December projections. Job gains have remained low while the unemployment rate has shown little change in recent months, and inflation remains somewhat elevated. Unemployment rate is projected to be 4.4% in 2026, 4.3% in 2027, and 4.2% in 2028. PCE inflation is expected to at 2.7% in 2026, 2.2% in 2027 and 2.0% in 2028. Uncertainty about the economic outlook remains elevated, and the FOMC is attentive to the risks to both sides of it's dual mandate. The implications on U.S. economy from the conflict in the Middle East are still uncertain.
The Committee seeks to achieve maximum employment and returning inflation to 2% over the long run. The Committee will take into account a wide range of information, including readings on labor market conditions, inflation pressures and inflation expectations, and financial and international developments to achieve its goals. The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee's goals.
Note that as of January 1, 2026 Euro Area consist of 21 member states.
The next scheduled FOMC meeting will be held on April 28-29, 2026.
Source: US Federal Reserve, FOMC Press Release; Summary of Economic Projections
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