The Federal Reserve's two day meeting starts Tuesday with rates expected to hold at 3.5 to 3.75 percent

The US Federal Reserve's Open Market Committee begins its two day meeting on Tuesday, 28 July 2026, with the decision due on Wednesday, 29 July, at 2 p.m. US Eastern time. A press conference by Fed Chair Kevin Warsh follows half an hour later.

Economists polled by FactSet expect the benchmark rate to be left unchanged in the 3.5 to 3.75 percent range, which would be the fifth consecutive meeting without a change. CME FedWatch pricing on Monday, 27 July, put the probability of no change at this meeting at about 65 percent, while expectations of an increase at the September meeting have risen.

US inflation has run above the Fed's target for five years, but cooler June consumer and producer price data have given the case for holding steady. The Fed's decision reaches Iran's market through the value of the dollar and the global gold price.