Fed Leaves Benchmark Rate Unchanged At 3.5%-3.75% In Split Vote
On Wednesday, July 29, 2026, the Federal Reserve's policy-setting Federal Open Market Committee voted to keep the federal funds rate at a 3.5%-3.75% target range in a split vote.[1]
The decision was not unanimous, with at least one committee member casting a dissenting vote.[1] CBS said policymakers held rates steady even as concerns about inflation persisted and elevated oil prices added pressure on consumer costs.[1]
CBS's separate coverage noted signs that inflation was cooling, adding nuance to the Fed's assessment of near-term price trends.[2] That mix of cooling readings in some measures and upward pressure from energy costs framed the debate that produced the split vote, CBS reported.[1]
Show source details & analysis (2 sources)
📌 Key Facts
- On Wednesday, July 29, 2026, the Federal Reserve voted to keep the federal funds rate at a 3.5%–3.75% target range.
- The decision was made by the Federal Open Market Committee and the policy vote was not unanimous, with at least one dissenting vote.
- CBS News reports the Fed held rates steady despite ongoing concerns about inflation.
- The segment underscored that the Fed held rates steady even as elevated oil prices contributed to those inflation concerns.
- The report carrying these details is dated Wednesday, July 29, 2026 1:30 PM (Central) in the CBS News coverage.
📰 Source Timeline (2)
Follow how coverage of this story developed over time
- On Wednesday, July 29, 2026, the Federal Reserve voted to keep the federal funds rate at a 3.5%–3.75% target range.
- CBS reports the policy decision was not unanimous, indicating at least one dissenting vote on the Federal Open Market Committee.
- The segment underscores that the Fed held rates steady despite ongoing concerns about inflation and elevated oil prices.