Fed holds rates at 3.75%
- The Federal Reserve heads into its April 28-29 meeting with the federal funds target range still set at 3.50% to 3.75%. - The range was last reaffirmed on March 18, when policymakers held steady and said they would assess incoming data, the outlook, and risks. - Markets overwhelmingly expect another hold this week, with Fed-watch attention shifting to Powell’s guidance on cuts. (federalreserve.gov)
The Federal Reserve enters its April 28-29 meeting with its benchmark interest-rate target still at 3.50% to 3.75%. (federalreserve.gov 1) (federalreserve.gov 2) That target range is the Fed’s main tool for cooling or stimulating the economy: higher rates make borrowing costlier, while lower rates make credit cheaper. The Federal Open Market Committee last left the range unchanged on March 18. (federalreserve.gov 1) (federalreserve.gov 2) In that March statement, the committee said it would judge any further moves by weighing incoming data, the evolving outlook, and the balance of risks. It also repeated its 2% inflation goal and its mandate to support maximum employment. (federalreserve.gov) The April meeting has not produced a decision yet as of Monday, April 27, 2026. The Fed’s calendar lists the next scheduled policy meeting for Tuesday and Wednesday, April 28 and April 29. (federalreserve.gov 1) (federalreserve.gov 2) Traders are overwhelmingly betting the committee will stay put again. CME’s FedWatch page says the tool tracks rate probabilities from 30-day Fed Funds futures, and multiple April 27 reports described a hold as the market’s base case. (cmegroup.com) (usatoday.com) (money.usnews.com) The significance of this meeting is less about whether rates move this week and more about what Chair Jerome Powell says afterward. News coverage on Monday framed the meeting as a test of how long officials think they can keep rates unchanged amid sticky inflation and geopolitical risks. (usatoday.com) (money.usnews.com) The Fed held rates at its January 28 meeting and again on March 18, so another no-change decision this week would extend that pause. The March press-release archive shows no rate cut or hike between those meetings. (federalreserve.gov) (federalreserve.gov) For households, a hold would usually mean no immediate relief on credit-card rates, home-equity lines, or other borrowing tied closely to short-term benchmarks. It would also mean savings yields stay supported longer than they would under a cutting cycle. (cnbc.com) (federalreserve.gov) The meeting concludes Wednesday, April 29, when the statement will show whether officials still see the same balance between inflation and employment. Until then, the official rate remains 3.50% to 3.75%. (federalreserve.gov) (federalreserve.gov)
