The Economics and Statistics Division maintains archives of previous publications for accountability purposes, but makes no updates to keep these documents current with the latest data revisions from Statistics Canada. As a result, information in older documents may not be accurate. Please exercise caution when referring to older documents. For the latest information and historical data, please contact the individual listed to the right.
<--- Return to Archive
For additional information relating to this article, please contact:
June 17, 2026US FEDERAL RESERVE MONETARY POLICY At its scheduled Federal Open Market Committee (FOMC) meeting on June 17th, 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, economic activity has been expanding at a solid pace, with strong productivity and capital investment, even with ongoing uncertainty from the Middle East conflict. The FOMC projects that GDP will grow by 2.2% in 2026, 2.3% in 2027, and 2.2% in 2028. The job market is holding steady, with hiring keeping pace with the workforce and unemployment staying low. Unemployment rate is projected at 4.3% in 2026 and 2027, and fall to 4.2% in 2028. Inflation is still higher than the 2% goal, pinned up by supply shocks in sectors like energy. The Committee estimates PCE inflation to be 3.3% in 2026, 2.3% in 2027, and a return to 2.0% target in 2028.
The Committee is determined to deliver price stability.
The next scheduled FOMC meeting will be held on July 28-29, 2026.
Source: US Federal Reserve, FOMC Press Release; Summary of Economic Projections (June)
<--- Return to Archive
