> FOMC Statement Jul 29, 2026: What Changed
> Source: https://interestratedecision.com/fed/statements/july-2026/ · Content last changed: 2026-11-12
> InterestRateDecision.com: free to quote with a link to the page above.

The FOMC statement of Jul 29, 2026 against the one before it: 37 words added, 1 removed, shown in the Fed's own text.

# FOMC statement, Jul 29, 2026

Set against the statement of Jun 17, 2026: 37 words added, 1 removed, 113 kept. The text is the Fed’s, with no reading of what a change means.

Added ~Removed~ Unmarked words are the same as before.

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.

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.

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.

Source: [the Federal Reserve’s release of Jul 29, 2026](https://www.federalreserve.gov/newsevents/pressreleases/monetary20260729a.htm). What price did after it: [the rate decision page](https://interestratedecision.com/fed/july-2026/).

[← Jun 17, 2026](https://interestratedecision.com/fed/statements/june-2026/) [Sep 16, 2026 →](https://interestratedecision.com/fed/statements/september-2026/) · [All statements](https://interestratedecision.com/fed/statements/)

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