Minutes of the Federal Open Market Committee, September 15-16, 2026

The Federal Reserve published the minutes of the Federal Open Market Committee’s September 15–16, 2026 meeting, which are typically released three weeks after policy decisions. These minutes reflect the Committee’s assessment of economic and financial conditions using only the information available during the meeting. The document is intended to provide transparency into the Fed’s deliberations and policy considerations. The minutes are accessible on the Board’s official website for public review.

The minutes summarize discussions on monetary policy, including assessments of inflation, employment, and financial market conditions as of the meeting dates. Participants reviewed recent economic indicators and their implications for the stance of policy. The Committee’s analysis was based on data and reports available up to the meeting’s conclusion. No policy changes were announced in the minutes, as they are retrospective.

The document highlights the Committee’s focus on balancing inflation risks with economic growth, noting concerns about persistent price pressures in certain sectors. Members discussed the labor market’s resilience but flagged uneven wage growth across industries. Financial stability risks, including asset valuations and credit conditions, were also examined in the context of policy decisions.

The minutes do not include forward-looking guidance or new policy directives, serving instead as a record of the Committee’s deliberations. They are published to enhance public understanding of the Fed’s decision-making process. The Federal Reserve emphasized that the minutes are based strictly on information available at the time of the meeting.