The Federal Open Market Committee decided to keep the federal funds target range unchanged at 3.50% to 3.75% during its July 2026 meeting. Despite this steady rate, the committee’s overall tone remains hawkish, prioritizing inflation control over easing monetary policy. The resilient labor market and growing inflationary pressures are fueling expectations of rate hikes in the coming months. The latest FOMC projections indicate only a 34% probability for a pause-pause-pause sequence at upcoming Fed meetings.
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