FOMC Meeting Statistics in US 2026 | Reserve Meeting Dates, Policy Reform, Annual Meetings & Key Facts

FOMC Meeting in US 2026 show eight scheduled meetings, with the Federal Open Market Committee holding the target range at 3.50%–3.75% through July, raising it by 25 basis points to 3.75%–4.00% on September 16, and holding it on October 28 by a 10–2 vote. The final 2026 meeting is December 8–9, and markets price an 82.6% chance of another quarter-point hike.

FOMC Meeting in US 2026 – Introduction

FOMC Meeting in US 2026 capture a year in which the Federal Reserve changed direction. The committee began 2026 at 3.50%–3.75% after three cuts in late 2025. It held that range for five meetings, then raised it in September for the first time since July 2023. Kevin Warsh took over as Chair on May 22, 2026, and dissents have since shifted from cuts to hikes.

This report lists every 2026 meeting date, decision, and vote. It also covers the dot plot, the Warsh meeting reforms, the voting rotation, and the minutes calendar. Figures come from the Federal Reserve and the market sources named in each table. The data are educational and are not investment advice. Rates and odds change quickly, so check the date on each figure.

Interesting Fact(s): FOMC Meeting Statistics in US 2026

CME FedWatch Odds for the December 8–9 Meeting
25-basis-point hike | █████████████████ 82.6%
Other outcomes      | ███ 17.4%

Source: Federal Reserve Board, FOMC statements and implementation notes, 2026; CME FedWatch via Fox Business, October 28, 2026.

The FOMC has met seven times so far in 2026, and one meeting remains. Eight scheduled meetings is the standard annual calendar. The committee raised its range to 3.75%–4.00% on September 16 by a 12–0 vote. It held that range on October 28 by 10–2. Lisa Cook and Beth Hammack voted for a hike. Across the seven meetings, officials cast 12 votes against the majority.

The Board set interest on reserve balances at 3.90%, effective October 29. Warsh has led the committee since May 22, 2026. CME FedWatch put the chance of a quarter-point hike at the December meeting at 82.6% after the October decision, up from 78.3% a day earlier. Odds are a market estimate, not a Fed commitment. The current range sits 0.25 points above its December 2025 level of 3.50%–3.75%.

FOMC Meeting Dates 2026: Full Federal Reserve Meeting Schedule

Weeks Between 2026 FOMC Meetings (each █ = 1 week)
Jan 27 → Mar 17 | ███████ 7
Mar 17 → Apr 28 | ██████ 6
Apr 28 → Jun 16 | ███████ 7
Jun 16 → Jul 28 | ██████ 6
Jul 28 → Sep 15 | ███████ 7
Sep 15 → Oct 27 | ██████ 6
Oct 27 → Dec 8  | ██████ 6

Source: Federal Reserve Board, FOMC calendar and statements, 2026.

The Fed holds 8 meetings a year, each on a Tuesday and Wednesday. The gaps run 6 or 7 weeks, and decisions come at 2:00 pm Eastern time. Four meetings, in March, June, September, and December, publish the Summary of Economic Projections with the dot plot. The first 2027 meeting is January 26–27, six or seven weeks after the December meeting.

Seven meetings are done. The committee held the range at five straight meetings before moving. Only the September meeting changed rates, by 25 basis points, and October held the new range. December is the last chance to change the range this year, and it includes a new dot plot.

FOMC Voting Statistics 2026: Dissents and Votes by Meeting

Dissenting Votes by Meeting
January   | ██ 2
March     | █ 1
April     | ████ 4
June      | 0
July      | ███ 3
September | 0
October   | ██ 2

Source: Federal Reserve Board, FOMC statements, 2026; YX Insights vote summary, October 2026.

Officials cast 12 dissenting votes across seven meetings. Four wanted cuts, five wanted hikes, and three objected to statement wording. Stephen Miran dissented 3 times, from January through April. Beth Hammack dissented 3 times, in April, July, and October. Kashkari and Logan dissented 2 times each, and Waller and Cook once each.

Five of the 12 dissents came in July and October. The direction flipped during the year. Early dissents favored cuts, with 4 in January through April. The April dispute was about an “easing bias” in the statement language. By July, the dissenters wanted a hike, and the committee followed in September by 12–0. The October split of 10–2 again leaned toward tightening.

Federal Funds Rate Target 2026: Rate Changes, Dot Plot and Policy Settings

Dot Plot: Members Projecting at Least One 2026 Hike
June      | █████████ 9 of 18
September | ████████████████ 16 of 18

Source: Federal Reserve Board, 2026; Schwab (Collin Martin), September 16, 2026; MUFG Research, September 2026.

The range started 2025 at 4.25%–4.50%. Three cuts of 25 basis points each brought it to 3.50%–3.75% by December. It stayed there through August 2026. The September hike lifted it to 3.75%–4.00%, which put the Board’s reserve balance rate at 3.90% by October 29.

The dot plot shows how views hardened. In June, 9 officials projected at least one hike and 8 projected no change. In September, 16 of 18 projected at least one more hike this year. The median dot sits at 4.125% for both 2026 and 2027. Warsh did not submit a dot.

Fed Policy Reform 2026: Warsh Changes to FOMC Meetings and Statements

2027 FOMC Meetings by Type (each █ = 1 meeting)
With a rate vote and statement | ███████ 7
Strategy-only, no vote         | █ 1

Source: CNBC, June 17 and October 28, 2026; Federal Reserve Board, 2026.

Warsh announced the main reform at his October 28 press conference. The FOMC will keep 8 meetings a year, but in 2027 one meeting will focus on monetary policy strategy, with no rate vote and no statement. That leaves 7 meetings with rate decisions. Warsh said 8 meetings is the right number, but the committee does not need to vote at each one.

Warsh has used the phrase “family fight” 13 times across five public appearances to describe committee disagreement. Style has changed too. After Warsh’s first meeting in June, the FOMC released a statement much shorter than the recent norm. October’s statement ran only a few sentences and said inflation “remains elevated.” Warsh has described the September hike as removing accommodation, not tightening, and he has said he does not rely on single data points.

FOMC Annual Meetings 2026: Voting Rotation and Calendar Through 2027

FOMC Voting Seats (each █ = 1 seat)
Governors             | ███████ 7
New York president    | █ 1
Rotating presidents   | ████ 4

Source: Federal Reserve Board, FOMC calendar and membership, 2026; Captain Trading FOMC guide, 2026.

Twelve people vote at each meeting, and the New York Fed president serves as the committee’s vice chair. They are the 7 Board governors, the New York Fed president, and 4 other regional presidents who rotate. The rotation changes at the first meeting of each year. Cleveland’s Hammack, Dallas’s Logan, and Minneapolis’s Kashkari held 2026 votes, which explains their dissents.

Up to 19 officials submit projections, and 18 did in September. Both years carry 8 meetings. The 2027 calendar runs from January 26–27 to December 7–8, with the dot plot due in March, June, September, and December. The 2027 rotation brings Chicago, Richmond, Atlanta, and San Francisco, alongside New York.

FOMC Projections 2026: December 2025 Dot Plot vs September 2026 Dot Plot

Median Year-End Federal Funds Rate Projection (each █ = 0.1 percentage point)
2026, Dec 2025 plot | ██████████████████████████████████ 3.44%
2026, Sep 2026 plot | █████████████████████████████████████████ 4.125%
2027, Dec 2025 plot | ███████████████████████████████ 3.1%
2027, Sep 2026 plot | █████████████████████████████████████████ 4.125%

Source: Federal Reserve Summary of Economic Projections, December 2025 (reported by FXStreet); Schwab and MUFG Research, September 2026.

The December 2025 plot expected one cut in 2026, to a median of 3.44%, and another in 2027, to 3.1%. Officials also projected 2.5% PCE inflation, 4.4% unemployment, and 2.3% growth for 2026. The September 2026 plot reversed the path. Its median sits at 4.125% for both 2026 and 2027, which is 0.69 points above the earlier 2026 median.

The shift came from inflation that stayed high. Warsh said in September that inflation is too high and has been for too long. The 2027 median rose by 1.03 points between the two plots, from 3.1% to 4.125%. The September plot also shows 16 of 18 officials expecting at least one more hike this year. The table shows only the projection items covered by the sources used here.

FOMC Rate Hike Odds 2026: Market Pricing Around Each Decision

Market-Implied Odds (each █ = 5 percentage points)
Sep 16 morning, 1+ hike in 2026  | ███████████████ 77%
Sep 16 after presser             | █████████████████ 87%
Oct 7, October hike              | ███ 17.2%
Oct 7, October hold              | █████████████████ 82.8%
Oct 27, December hike            | ████████████████ 78.3%
Oct 28, December hike            | █████████████████ 82.6%

Source: CME FedWatch via Benzinga (October 7, 2026) and Fox Business (October 28, 2026); Schwab, September 16, 2026.

Market odds moved sharply around each Fed event. On September 16, the chance of at least one more hike this year rose from 77% to 87% after Warsh’s press conference. By October 7, traders put the October hold at 82.8% and a hike at 17.2%. The Fed held, as the larger share expected. Two voters still wanted a hike, which kept hike odds alive.

The December odds rose after the October decision. They went from 78.3% to 82.6%, a gain of 4.3 points in one day. That change followed a hold that came with 2 hawkish dissents and a statement saying inflation “remains elevated.” These odds come from futures prices. They shift with every inflation report, so treat them as a snapshot.

FOMC Minutes and Blackout Calendar 2026: When Fed Information Is Released

Share of the Year Inside FOMC Blackout Windows (each █ = 10 days)
Blackout days (8 windows x 13) | ██████████ 104
Other days                     | ██████████████████████████ 261

Source: Federal Reserve Board, FOMC calendar and blackout rules, 2026; YX Insights, October 2026.

Every meeting follows the same sequence. The statement comes at 2:00 pm ET, and the Chair’s press conference follows at 2:30 pm. Minutes arrive 21 days later at 2:00 pm. The September minutes came out on October 7, and the October minutes are due on November 18.

The blackout starts on the second Saturday before a meeting and ends the day after it. For the October meeting, it ran from October 17 to October 29, which is 13 days. Eight windows of 13 days cover about 104 days, or 28.5% of the year. Officials speak less about policy during those days.

FOMC Meeting in US 2026 FAQs

When is the next FOMC meeting?

The next FOMC meeting is December 8–9, 2026. It is the eighth and last meeting of the year and includes a new dot plot.

What did the Fed do at the October 28, 2026 meeting?

The FOMC kept the target range at 3.75%–4.00% by a 10–2 vote. Lisa Cook and Beth Hammack preferred a 25-basis-point hike.

How many times does the FOMC meet each year?

Eight times. In 2027, one of the 8 meetings will focus on strategy, with no rate vote or statement.

What is the federal funds rate in October 2026?

The target range is 3.75%–4.00%. The Board set interest on reserve balances at 3.90% effective October 29.

When was the last Fed rate hike?

September 16, 2026, when the FOMC raised the range by 25 basis points on a 12–0 vote. It was the first hike since July 2023.

Who is the Fed Chair in 2026?

Kevin Warsh, who became Chair on May 22, 2026.

What time does the FOMC announce its decision?

The statement comes at 2:00 pm Eastern time. The press conference follows at 2:30 pm.

When are FOMC minutes released?

Minutes arrive three weeks after each meeting. The October 27–28 minutes are due November 18, 2026.

How many people vote at FOMC meetings?

12 vote: 7 governors, the New York Fed president, and 4 rotating regional presidents.

Will the Fed raise rates in December 2026?

No one knows. CME FedWatch showed an 82.6% chance of a 25-basis-point hike on October 28. September’s dot plot showed 16 of 18 officials projecting at least one more hike this year.

Which FOMC meetings include the dot plot?

March, June, September, and December. The next one is due on December 9, 2026.

What is the dot plot?

The dot plot charts each official’s projection for the federal funds rate. In September 2026, 18 officials submitted dots, and the median for year-end 2026 was 4.125%.

How many dissents did the FOMC have in 2026?

12 dissenting votes across the seven meetings so far. Four favored cuts, five favored hikes, and three objected to statement wording.

Who voted against the October 2026 decision?

Lisa Cook and Beth Hammack voted against. Both preferred raising the target range by 0.25 percentage points.

How many hikes does the Fed expect in 2026?

16 of 18 officials projected at least one more hike this year in the September dot plot. Markets price an 82.6% chance of that hike in December.

Where can I find official FOMC statements?

The Federal Reserve Board publishes every statement, implementation note, set of minutes, and projection table on its website at 2:00 pm ET on release day.

What is a basis point?

A basis point is one-hundredth of a percentage point. A hike of 25 basis points raises the target range by 0.25 percentage points, such as from 3.50%–3.75% to 3.75%–4.00%.

Disclaimer: This research report is compiled from publicly available sources. While reasonable efforts have been made to ensure accuracy, no representation or warranty, express or implied, is given as to the completeness or reliability of the information. We accept no liability for any errors, omissions, losses, or damages of any kind arising from the use of this report.