What time is the Fed meeting?

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The Federal Open Market Committee (FOMC) is meeting this week. During these meetings, the committee assesses the health of the economy and potentially adjusts the federal funds rate. Read on to learn more about the timeline for this meeting, what it involves, and expected outcomes.

The latest FOMC meeting takes place on July 28-29, 2026. This is its fifth scheduled meeting of the year.

Once the meeting concludes, the FOMC will release its policy decisions on Wednesday at 2 p.m. Eastern time. Then the Fed chairman will hold a news conference at 2:30 p.m.

The live news conferences, held by the Federal Reserve chairman, are livestreamed and recorded. Additionally, the minutes of regularly scheduled meetings are released three weeks after the date of the policy decision.

Knowing when the Fed meets to discuss monetary policy and tuning into those meetings can help you gain a better understanding of how the economy is doing and help you make more informed decisions about your personal finances.

Read more: What Kevin Warsh's appointment as Fed chair could mean for consumers

The Fed is expected to hold the federal funds rate steady. However, the CME Group's FedWatch tool predicts about a 36% chance of a rate increase due to ongoing inflationary pressure.

Following its last meeting, when it held rates steady, the Fed stated, "The Committee decided to maintain the target range for the federal funds rate at 3-1/2 to 3-3/4 percent, in support of the Federal Reserve's dual mandate. The Committee reaffirmed its policy of maintaining ample reserves in the banking system. Economic activity is expanding at a solid pace despite elevated uncertainty that owes, in part, to the conflict in the Middle East. Productivity growth and capital investment are strong. Job gains have kept pace with the workforce, and the unemployment rate has changed little." 

That said, it's impossible to predict with certainty when the Fed will make changes to the federal funds rate and by how much. But it's a good idea to be prepared. 

Ahead of future Fed meetings — and possible rate increases — consider taking the following steps to shore up your finances:

Prioritize paying down variable-rate debt. Credit cards and other variable-rate debt will likely see increased APRs following a Fed rate hike. That's why your top prioritiy should be paying down high-interest balances now. For example, consider consolidating high-interest credit card debt with a 0% balance-transfer offer or lower-rate consolidation loan.

Lock in a low fixed rate now. The good news is that if rates increase, the cost of fixed-rate loans won't go up. However, if you took out a mortgage, car loan, or private student loan when rates were elevated or your credit score wasn't in great shape, now may be your last chance to refinance to a lower rate.

Keep your savings liquid. Another benefit to a Fed rate hike is that deposit account yields tend to go up. That presents the opportunity to shop around and secure a higher interest rate on your savings. However, it's important to avoid locking money you might need for an unexpected expense into an account or investment that's difficult or costly to access. Your best bet is to take advantage of today's best high-yield savings accounts, which pay upwards of 4% APY, and don't impose penalties for withdrawing funds.

Read more: A look at the federal funds rate over the past 50 years: How has it changed?

The Fed meets eight times per year to evaluate the health of the economy and make decisions regarding monetary policy. Here's a schedule of the Fed's meetings for 2026.

Knowing how the Federal Reserve's monetary policy decisions impact your interest earnings over time is key to making an informed decision about where to put your money.

Will the Fed cut or raise interest rates in 2026? We reached out to economic experts for their Fed rate predictions. Here's what they had to say.

The Federal Open Market Committee makes decisions throughout the year that touch the financial lives of virtually every American. Here’s a look at what the FOMC does, current FOMC members, and how their decisions affect your money.

Here's how the Fed's rate decision could impact savings products, various types of loans, and credit cards.

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