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September 16, 2026US FEDERAL RESERVE MONETARY POLICY At its scheduled Federal Open Market Committee (FOMC) meeting on September 16th, the US Federal Reserve announced that it will raise the target range for the federal funds rate by 25 basis points to a range of 3.75% to 4.0%.
The Committee notes that economic activity has been expanding at a solid pace, with strong productivity and capital investment, even with ongoing uncertainty from the Middle East conflict. GDP is projected to rise 2.3% in 2026, 2.4% in 2027, and 2.2% in 2028. Job growth has matched the expansion of the workforce, keeping the unemployment rate relatively stable. Unemployment rate is projected to average 4.1% from 2026-2028. Inflation is still higher than the 2% goal, pinned up by supply shocks in sectors like energy. PCE inflation is forecasted to be 3.7% in 2026, 2.3% in 2027, and 2.1% in 2028.
The Committee is determined to deliver price stability.
The next scheduled FOMC meeting will be held on October 27-28, 2026.
Source: US Federal Reserve, FOMC Press Release; Summary of Economic Projections, September 16
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