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Fed holds policy rate at 3.5%–3.75% in 9–3 FOMC vote; chair stresses commitment to 2% target
Summary
The Federal Reserve's chair said the FOMC voted 9–3 to maintain the federal funds target range at 3.5–3.75%, affirmed the committee's 2% inflation goal and said the Fed will continue to make ample reserves available while monitoring market signals and incoming data.
The chair said the Federal Open Market Committee voted "by a 9 to 3 vote to maintain the target range for the federal funds rate at 3.5 to 3.75 percent." He told reporters the committee remains "resolute" in delivering price stability and that "there's only a target, and it's 2%."
The chair framed the decision as part of a broader, ongoing review rather than a final pivot. He said the committee will watch data and market developments and that the meeting's discussion narrowed the range of policy options rather than settling the path forever. The decision was presented as approved by a majority (9 yes, 3 no); the chair emphasized the vote reflects a deliberative process and reiterated that the Fed will act when appropriate.
