Key Takeaways:
The Fed voted 8–4 on April 29, 2026, to hold the federal funds rate at 3.5–3.75%, with Stephen Miran dissenting for a cut. The FOMC cited Middle East uncertainty and elevated inflation above the 2% target as key reasons to hold rates steady. Bowman, Kashkari, Logan, and Miran split on approach, signaling internal Fed divisions heading into the next 2026 meeting. Fed: No ChangeVoting to hold rates were Powell; Vice Chair John C. Williams; Michael S. Barr; Bowman; Lisa D. Cook; Philip N. Jefferson; Anna Paulson; and Christopher J. Waller. The split reflects real disagreement inside the committee, with one member pushing for an immediate cut and three others resisting any language that could be read as a signal toward easing.
