Fed Holds Rates; Three Dissenters Want a Hike

The Fed kept its benchmark rate unchanged on July 29, 2026. Three policymakers dissented for a hike (Reuters) — a rare triple dissent exposing sharp disagreement over inflation's path. Chairman Warsh held firm on the 2% target. Stocks fell; the 30-year Treasury yield hit its highest since 2007 (Bloomberg). Each idle meeting deepens one question: is the Fed behind the curve?