FOMC statement of July 29, 2026
This statement of the Federal Open Market Committee, compared sentence by sentence with the scheduled statement before it: what changed in the text, and how the Committee voted.
In short
The Federal Open Market Committee released this statement on July 29, 2026. Compared with the previous scheduled statement of June 17, 2026: 2 sentences changed, 1 was added, 0 were removed, and 5 stayed the same. In words: 39 added, 3 removed. The vote on this statement: Vote 9-3. 3 members voted against: Beth M. Hammack, Neel Kashkari, Lorie K. Logan. On the June 17, 2026 statement: Vote 12-0. Unanimous.
FOMC statement · July 29, 2026
Changed sentences against the previous scheduled statement (June 17, 2026)
5 unchanged · 2 changed · 1 added · 0 removed · words +39 / −3
- June 17, 2026
- Vote 12-0. Unanimous.
- July 29, 2026
- Vote 9-3. 3 members voted against: Beth M. Hammack, Neel Kashkari, Lorie K. Logan.
The Federal Open Market Committee approved the following statement for release by a 12 - 0 9 - 3 vote: The Committee decided to maintain the target range for the federal funds rate at 3-1/2 to 3-3/4 percent, in support of the Federal Reserve's dual mandate.
The Committee reaffirmed is continuing its policy of maintaining ample reserves in the banking system.
Voting against the monetary policy action were Beth M. Hammack, Neel Kashkari, and Lorie K. Logan, who preferred to raise the target range for the federal funds rate by 1/4 percentage point at this meeting.
Show the 5 unchanged sentences
Economic activity is expanding at a solid pace despite elevated uncertainty that owes, in part, to the conflict in the Middle East.
Productivity growth and capital investment are strong.
Job gains have kept pace with the workforce, and the unemployment rate has changed little.
Inflation remains elevated relative to the Committee's 2 percent goal, in part reflecting supply shocks that have driven price increases in certain sectors, including energy.
The Committee will deliver price stability.
Source: Board of Governors of the Federal Reserve System — the statement on federalreserve.gov · June 17, 2026
How to read this page
The page sets this statement of the Federal Open Market Committee next to the scheduled statement before it, sentence by sentence. The Fed’s sentences are shown as published, in English.
In a changed sentence, the words that were dropped are struck through and the new words are underlined. A sentence found only in the newer statement is marked as added; one found only in the older statement, as removed. Sentences that did not change are collapsed.
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