Fed Holds Rates; Three Dissenters Push for a Hike

The FOMC left its benchmark rate unchanged on July 29, 2026. Three policymakers dissented in favor of a hike (Reuters) — a rare triple dissent signaling deep internal disagreement over inflation's path. Chairman Warsh reaffirmed the 2% inflation target. Stocks sold off and the 30-year Treasury yield hit its highest since 2007 (Bloomberg). Each meeting without action raises the question: is the Committee behind the curve?