Bloomberg Surveillance · Wednesday, July 29, 2026
The Federal Reserve maintained its current interest rate, with nine members voting to hold and three dissenting voices from regional Fed presidents advocating for a rate hike. The official statement noted that economic activity is expanding at a solid pace, but inflation remains elevated.
“The news is sparse, no change in rates, nine in favor, three decent slogan, Hammock and Cashkari. Other than that, there is not a word of difference between the June statement and this one.”
“Inflation remains elevated relative to the two percent goal, in part reflecting supply shocks that have driven price shocks.”
“It is notable, though, that there were three descents, and that I think is the news from this particular statement, given the fact that Neil Koshkari also joined Laurie Logan and Beth Hammick.”