Fed holds rates at 3.50%–3.75%; 4 dissents

The Federal Open Market Committee kept the target range for the federal funds rate at 3.50%–3.75% at its April 2026 meeting. Stephen I. Miran (preferred: cut 25bp), Beth M. Hammack (preferred: hold, but against including an easing bias in the statement), Neel Kashkari (preferred: hold, but against including an easing bias in the statement), Lorie K. Logan (preferred: hold, but against including an easing bias in the statement) dissented.

• Target range 3.50%–3.75% (unchanged)
• Dissents: Stephen I. Miran — cut 25bp; Beth M. Hammack — hold, but against including an easing bias in the statement; Neel Kashkari — hold, but against including an easing bias in the statement; Lorie K. Logan — hold, but against including an easing bias in the statement
• No Summary of Economic Projections at this meeting
• Statement released 2:00 pm ET