Everyone wants to know when is the next US federal reserve meeting, but let’s be real: people actually want to know if their mortgage rate is going to drop or if their high-yield savings account is about to take a hit. Markets are twitchy.
The Federal Open Market Committee (FOMC) has a very specific rhythm. They meet eight times a year, usually on a Tuesday and Wednesday. We are currently staring down the January 27–28, 2026 meeting as the first big pivot point of the year.
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Usually, the "Big Reveal" happens on Wednesday at 2:00 PM Eastern Time. That’s when the Fed drops its policy statement. Jerome Powell, who is currently wrapping up a fairly historic and sometimes controversial second term as Chair, then steps up to the mic at 2:30 PM. He’s the guy who has to explain why they did what they did without causing a global market meltdown.
The 2026 FOMC Schedule You Need to Save
If you’re trying to plan your finances or your business moves, you sort of have to keep these dates on your radar.
The Fed will meet on January 27–28, then again on March 17–18. After that, they’ll gather April 28–29, followed by a summer session on June 16–17.
The second half of the year is just as packed. They’ve got meetings set for July 28–29, September 15–16, October 27–28, and they’ll wrap the year up on December 8–9.
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It’s worth noting that the March, June, September, and December meetings are the "big ones." Why? Because those are the meetings where they release the Summary of Economic Projections (SEP). That’s the "dot plot" you hear everyone screaming about on CNBC. It shows exactly where each Fed official thinks interest rates are headed over the next few years.
Why the January Meeting Is Making People Nervous
Honestly, the vibe for the upcoming when is the next US federal reserve meeting is a bit weird. Usually, the first meeting of the year is a "wait and see" session. But 2026 isn't a "usual" year.
The economy is currently throwing mixed signals like a broken traffic light. On one hand, the labor market has been cooling off. Unemployment recently nudged up to 4.4% in December 2025, which isn't a crisis, but it’s definitely a trend. On the other hand, core inflation is still hovering around 2.7% to 3%, which is higher than the Fed’s 2% target.
Powell is in a tough spot. If he cuts rates too fast, inflation could come roaring back, especially with new tariff policies and fiscal stimulus potentially hitting the system. If he holds them too high for too long, he risks a "hard landing"—basically, a recession that nobody wants.
The Politics of the Fed in 2026
You can't talk about the Fed right now without mentioning the White House.
President Donald Trump is back in office, and his relationship with Powell has always been... let's call it "complicated." Powell’s term as Chair actually expires in May 2026. This means the January and March meetings are likely his "legacy" meetings.
There is a ton of speculation about who comes next. Names like Kevin Warsh or even current Governor Christopher Waller are frequently floated. Because the Fed is supposed to be independent, Powell is trying very hard to ignore the political noise, but when the President is tweeting about wanting lower rates, it puts the FOMC in a very public spotlight.
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What Actually Happens Behind Those Closed Doors?
It’s not just Powell in a room making decisions. There are 12 voting members. This includes the seven members of the Board of Governors and five Reserve Bank presidents.
The New York Fed president always gets a vote. The other four slots rotate among the remaining 11 regional bank presidents. This year, we’re seeing some of the more "hawkish" members (the ones who hate inflation and like higher rates) rotating into voting positions.
This internal split is why you’ll see some members like Stephen Miran pushing for more aggressive action while others like Michelle Bowman might want to keep the brakes on. They spend two days looking at "The Beige Book," which is a fancy name for a report on how the economy is actually doing in places like Atlanta, Chicago, and San Francisco.
How This Hits Your Wallet
When the Fed moves the "federal funds rate," it ripples through everything.
- Credit Cards: Most cards have variable rates. If the Fed doesn't cut in January, your interest charges aren't going down anytime soon.
- Mortgages: These actually track the 10-year Treasury yield more than the Fed rate, but the Fed's tone matters. If Powell sounds like he’s done cutting, mortgage rates might actually tick up.
- Savings Accounts: This is the one silver lining. If the Fed stays "higher for longer," your online savings account will keep paying that 4% or 5% interest.
Practical Steps for the Rest of 2026
Stop trying to time the market perfectly. Nobody, not even the people sitting in that room in D.C., knows exactly what the data will look like in June.
Instead, look at your own debt. If you've been waiting for a massive rate drop to refinance your home, you might be waiting a while. J.P. Morgan economists are actually predicting the Fed might hold steady for most of 2026 because the economy is still surprisingly resilient.
Keep an eye on the January 28 announcement. If they keep rates the same but change the wording in their statement from "restoring price stability" to something more neutral, that’s your signal that a cut is coming in March.
Watch the labor data. If the unemployment rate jumps toward 4.7% or 4.8% before the March meeting, the Fed will almost certainly have to cut rates to save jobs, regardless of where inflation is sitting. That’s the "dual mandate" in action.