Federal Reserve Leaves Interest Rates Unchanged, but Three Officials Push Back

On July 29, 2026, the Federal Reserve — which sets the cost of borrowing money — kept its key rate at 3.5%–3.75% for the fifth time in a row. Three officials disagreed, each wanting a small increase. They cited rising prices driven by Middle East energy disruptions. Back in June, half of 18 officials already expected a hike.