The Fed Decides Today

September 16, 2026 | New York, NY

The FOMC's September meeting wraps this afternoon, with the policy statement due at 2:00 PM ET and Chair Kevin Warsh's press conference to follow at 2:30 PM ET. The Committee has held the federal funds rate at 3.50%–3.75% through five straight meetings this year, but that streak is now in question.

Why: headline inflation is still running near 3.7% annually, well above the Fed's 2% target, and energy prices have kept the pressure on. Fed Governor Michael Barr has already signaled he'd back a hike if incoming data doesn't show convincing progress toward that target. Markets are split — some pricing a hold, others a 25 basis point increase.

This is also a full projections meeting — a new Summary of Economic Projections and dot plot land alongside the statement, giving markets a clearer read on where the Committee sees rates heading into 2027.

For investors: this isn't a meeting to watch passively. Whether the Fed holds, hikes, or signals a shift, portfolio positioning, borrowing costs, and cash-equivalent yields all respond directly to what's announced today.

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Mikhael Paul Wealth Management & Entertainment

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