URL: https://www.federalreserve.gov/newsevents/pressreleases/monetary20260429a.htm
The Federal Open Market Committee held the federal funds target range at 3-1/2 to 3-3/4 percent at its April 29, 2026 meeting. The statement said economic activity has been expanding at a solid pace, job gains have remained low, and inflation is elevated, in part reflecting a recent increase in global energy prices. The decision drew four dissents: Stephen Miran preferred a 1/4-point cut, while Beth Hammack, Neel Kashkari, and Lorie Logan supported holding but opposed the statement’s easing bias. Eight members, including Chair Powell and Vice Chair Williams, voted in favor.
A real central-bank rate hold with elevated inflation and a split committee — a natural case for the wiki’s Austrian business-cycle and monetary-policy lens (gross-market-rate distortion, the knowledge problem in rate-setting, intervention framing).