Minutes of the Federal Open Market Committee, July 28–29, 2026

The Federal Open Market Committee released minutes from its July 28–29, 2026 meeting, detailing discussions held three weeks prior. The document reflects economic and financial conditions as assessed by Committee members at the time of the meeting. The minutes are published routinely three weeks after each policy decision, providing transparency into the Committee’s deliberations. The descriptions contained in the minutes are based solely on information available to members during the meeting.

The minutes outline the Committee’s analysis of current economic conditions, including labor market trends, inflation pressures, and financial market developments. Members discussed risks to the outlook and the appropriate stance of monetary policy given the available data. The document serves as a record of the Committee’s assessment of economic conditions at the time of the meeting. The minutes are intended to provide context for the policy decision made during the July session.

The Federal Reserve noted that the minutes are not intended to convey the Committee’s future policy intentions or commitments. The descriptions reflect the Committee’s assessment based on the information available at the time of the meeting. The minutes are published to enhance public understanding of the Committee’s decision-making process. The document does not include new policy announcements or changes to the stance of monetary policy.

The minutes can be accessed on the Federal Reserve’s official website, where they are made available to the public. The document is part of the Federal Reserve’s routine transparency efforts to inform stakeholders about the Committee’s deliberations. Media inquiries regarding the minutes can be directed to the Federal Reserve’s press office. The minutes provide a snapshot of the Committee’s views at the time of the meeting.