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No. The Federal Reserve has no scheduled rate decision today, October 7, 2026. The next scheduled Federal Open Market Committee (FOMC) meeting is October 27–28. At its latest meeting, on September 16, the Fed raised its benchmark-rate target range by a quarter percentage point, to 3.75%–4.00%.
Is the Fed cutting interest rates today?
No FOMC decision is scheduled for October 7. The Fed’s official meeting calendar lists October 27–28 as the next scheduled meeting after the September meeting. A market forecast about what the Fed might do is not an official decision; the Committee announces its policy action after it meets.
What did the Fed decide at its latest meeting?
In its September 16, 2026 statement, the FOMC said it raised the target range for the federal funds rate by 25 basis points, or one quarter of a percentage point, to 3.75%–4.00%. The statement records a 12–0 vote approving the action, not a dissent. Read the September 16 FOMC statement for the Committee’s full explanation.
Who is Fed chair, and what happened to the dissent story?
The current FOMC roster lists Kevin Warsh as chairman and Jerome H. Powell as a member of the Board of Governors. That means a current headline framing the decision around Powell as chair is outdated. The Federal Reserve’s FOMC roster identifies the Committee’s current membership and leadership.
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The recent dissent was at the July 28–29 meeting, not at the September meeting. The July minutes say the Committee voted 9–3 to keep the target range at 3.50%–3.75%; Beth M. Hammack, Neel Kashkari, and Lorie K. Logan dissented because they preferred a quarter-point increase. The July meeting minutes record that vote. The claim that this was the first double dissent in a decade is not established by the cited records, so it should not be treated as verified context.
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