The Fed, under a new chairman in his second Federal Open Market Committee (FOMC meeting in July, held its rates constant, the same as in the four previous meetings in 2026. The last time the Fed changed its rates was a 25-basis-point cut last December.The Fed cited economic and employment growth and considered inflation, which is higher than its 2% goal as a result of a supply shock, implying that it is temporary, as the committee WILL deliver price stability.