Fed Update | July 2026 FOMC - Quiet Momentum
Jul 30
4 min read
Defying out-of-consensus calls for a surprise rate increase at its July 28-29 FOMC meeting, the Federal Reserve chose to hold off on moving for now. However, three dissents in favor of lifting policy rates (Hammack, Kashkari, and Logan) offered evidence of a "good family fight". That there was "nothing inertial" about the Fed's discussions, policy, or strategy may signal momentum toward a possible September rate hike (or even balance sheet tightening), notwithstanding Chair Warsh's reticence.