US Fed Interest Rate Cut meeting date: US Fed Interest Rate Cut meeting date: When is next meeting in 2026? What to expect?

Fed Chairman Jerome Powell said at a press conference after the interest rate decision that the US central bank’s next move is unlikely to be an interest rate hike, given that it is not the base case reflected in policymakers’ new forecasts. The Federal Reserve cut interest rates in another split vote on Wednesday, but signaled it would likely pause further cuts in borrowing costs as officials seek clearer signals about the direction of the labor market and inflation, which “remains somewhat elevated.”

In 2026, Federal Open Market Committee (FOMC) meetings are planned to be held on January 27-28, March 17-18, April 28-29, June 16-17, July 28-29, September 15-16, October 27-28 and December 8-9.

New forecasts released after the US central bank’s two-day meeting showed the median policymaker expected just a quarter-point cut in 2026; Same view as in September; Inflation is expected to slow to around 2.4% by the end of next year, even as economic growth rises above trend at 2.3% and the unemployment rate remains moderate at 4.4%.
Wednesday’s cut cut the rate by a quarter point to about 3.6%, the lowest level in nearly three years. The Fed’s lower interest rates can lower borrowing costs for mortgages, auto loans, and credit cards over time, but market forces can also affect those rates.

Three Fed officials opposed the move, the most in six years and a sign of deep divisions in a committee that traditionally works by consensus. While the two officials voted to keep the Fed’s interest rate steady, Stephen Miran, who was appointed by Trump in September, voted for a half-point cut.

The December meeting may herald a more contentious period for the Fed. Officials are divided between those who support lowering rates to boost hiring and those who prefer rates to remain unchanged as inflation remains above the central bank’s 2% target. These divisions are likely to continue unless inflation shows clear signs of being fully brought under control or unemployment is worsening.
The broad range of cuts set by 19 members of the Fed’s rate-setting committee for 2026 was a striking sign of division at the Fed. Seven predicted no cuts next year, while eight predicted the central bank would impose two or more cuts. Four supported only one. Only 12 of 19 members vote on rate decisions.