By Tom Burnett CFA
On March 18, the Federal Reserve Open Market Committee (“FOMC”) voted to leave the Fed Funds range at 3.5-3.75%. The vote was 11-1 with one member voting for a reduction of one-quarter point. The FOMC statement reiterates the goal of reducing the Core inflation rate from the current 2.7% level to 2.0% over the next 12 to 18 months. The Fed also released its latest quarterly set of economic projections. It now sees GDP growth in the range 0f 2% to 2.5% over the years 2026 and 2027 with inflation setting in at 2.0% in 2027.
The next FOMC Meeting is set for April 29, 2026.
Tom Burnett CFA is Director of Research