The U.S. Federal Reserve’s Federal Open Market Committee (FOMC) concluded its April 2026 meeting on April 29, opting to maintain the federal funds rate target range at 3.50% to 3.75%. This decision marks the third consecutive policy meeting where the central bank has held rates steady.

The widely anticipated decision reflects the Federal Reserve’s ongoing concern about elevated inflation levels. Central bank officials noted that inflation remains stubbornly high, partly driven by increased global energy prices.

Personal Consumption Expenditures (PCE) inflation was projected at 2.7% for 2026, still above the Fed’s 2% target.