Fed Leaves Rates Unchanged; Markets Plunge Worldwide

The Federal Reserve — the U.S. central bank that sets borrowing costs — kept rates unchanged on July 29, 2026, but gave no hint what comes next. Stocks tanked July 30, Asian markets fell, and long-term U.S. government bond yields hit a 19-year high. Bloomberg reported the bond sell-off signals doubt about the Fed's credibility under official Kevin Warsh.