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Fed Interest Rate Decision, July 2026

The Federal Reserve held the federal funds rate at 3.50%–3.75% on July 29, 2026, as expected.

Decision3.50%–3.75%■ hold
Against expectedAs expectedexpected 3.50%–3.75%
Previous3.50%–3.75%federal funds rate
EUR/USD one hour later +56 pips from the last price before
The result

What the Fed decided in July 2026

The move Hold Held at 3.50%–3.75%.
Against expected No surprise Economists expected: hold at 3.50%–3.75%. The decision was as expected.
Timing 2:00 PM EDT Wednesday, July 29, 2026; press conference at 2:30 PM EDT.
What price did

EUR/USD after the Fed decision, minute by minute

One-minute candles, New York time. The box is the hour before the announcement. How we measure.

EUR/USD one-minute chart around the Federal Reserve decision of Jul 29, 2026 The hour before the 14:00 announcement ranged 15 pips. The first spike went above it by 52 pips, and did not close back inside within the hour. 1.138 1.140 1.142 1.144 1.146 13:00 13:30 14:00 14:30 15:00 15:30 THE HOUR BEFORE Fed 14:00 PRESS CONF. Spike 1.14522 · 52 pips past the hour's high
  1. The hour beforeEUR/USD ranged 15 pips, from 1.13844 to 1.13997, and was at 1.13953 at the announcement.
  2. The first spike After 0 minutes price went through the hour's high and ran 52 pips past it.
  3. The close back No five-minute candle closed back inside the range within the hour: the first move held.
  4. The other side Not measured: it needs a close back first.
  5. The moves From the last price before the announcement: +32 pips at 15 minutes, +56 pips at one hour, +64 pips at four hours.
For context

Across 14 measured Fed decisions since January 2025, the first spike closed back inside the hour-before range within 60 minutes in 10 (71%), and in 9 of those price then took the other side within four hours. In the other 4 the first move held. Median move in the first 15 minutes: 26 pips.

This decision is one where the first move held. Counts include the decisions where it did not close back. All Fed dates · Fed overview.

← Previous decisionFed, June 2026Held at 3.50%–3.75% Next decision →Fed, September 2026Wed, Sep 16, 2:00 PM EDT
Questions

Fed July 2026 decision: questions

What time was the Fed interest rate decision on Jul 29, 2026?

It was announced at 2:00 PM EDT (7:00 PM London London, 3:00 AM Tokyo Tokyo), with the press conference at 2:30 PM EDT.

What did the Fed decide in July 2026?

Held at 3.50%–3.75% (previous 3.50%–3.75%). Economists expected: hold at 3.50%–3.75%, so the decision was as expected.

How did EUR/USD react to the Fed decision in July 2026?

On one-minute candles: the hour before ranged 15 pips; the first spike went above it by 52 pips; it did not close back inside within the hour; after one hour EUR/USD was +56 pips from its pre-announcement price.

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