Timothy MarksTMRETimothy Marks
Real Estate

Markets

Fed Analysis.

FOMC decisions, CPI release dates, and the prevailing federal funds target range — policy context for Fairfield County mortgage and housing costs.

Official FOMC calendarBLS CPI scheduleMortgage rates

Mortgage ratesFed analysis

FOMC decision

Hold

Wed, July 29, 2026 · 3.5% – 3.75%

Next FOMC

Tue, Sep 15 – 16 Wed 2026

Statement typically 2:00 p.m. ET on the decision day; Chair press conference ~2:30 p.m. ET. Includes SEP projections.

Read statement

Next 3 months · FOMC

  • Tue, Sep 15 – 16 Wed 2026· Decision pending · includes SEP
  • Tue, Oct 27 – 28 Wed 2026· Decision pending

Prevailing CPI

+3.0% YoY · +0.1% MoM

July 2026 CPI, released Wed, August 12, 2026.

Read release

Next 3 months · CPI

  • Fri, Sep 11, 2026· August 2026 · Awaiting print
  • Wed, Oct 14, 2026· September 2026 · Awaiting print
  • Tue, Nov 10, 2026· October 2026 · Awaiting print

Policy overlay

Federal Reserve Open Market Committee decision timeline · Prevailing CPI

Mobile view

Full history · funds mid-range + CPI-U YoY

0.0%1.0%2.0%3.0%4.0%5.0%6.0%7.0%8.0%9.0%202120222023202420252026TODAYCPI January 2020: +2.5% YoYCPI February 2020: +2.3% YoYCPI March 2020: +1.5% YoYCPI April 2020: +0.3% YoYCPI May 2020: +0.1% YoYCPI June 2020: +0.6% YoYCPI July 2020: +1.0% YoYCPI August 2020: +1.3% YoYCPI September 2020: +1.4% YoYCPI October 2020: +1.2% YoYCPI November 2020: +1.2% YoYCPI December 2020: +1.4% YoYCPI January 2021: +1.4% YoYCPI February 2021: +1.7% YoYCPI March 2021: +2.6% YoYCPI April 2021: +4.2% YoYCPI May 2021: +5.0% YoYCPI June 2021: +5.4% YoYCPI July 2021: +5.4% YoYCPI August 2021: +5.3% YoYCPI September 2021: +5.4% YoYCPI October 2021: +6.2% YoYCPI November 2021: +6.8% YoYCPI December 2021: +7.0% YoYCPI January 2022: +7.5% YoYCPI February 2022: +7.9% YoYCPI March 2022: +8.5% YoYCPI April 2022: +8.3% YoYCPI May 2022: +8.6% YoYCPI June 2022: +9.1% YoYCPI July 2022: +8.5% YoYCPI August 2022: +8.3% YoYCPI September 2022: +8.2% YoYCPI October 2022: +7.7% YoYCPI November 2022: +7.1% YoYCPI December 2022: +6.5% YoYCPI January 2023: +6.4% YoYCPI February 2023: +6.0% YoYCPI March 2023: +5.0% YoYCPI April 2023: +4.9% YoYCPI May 2023: +4.0% YoYCPI June 2023: +3.0% YoYCPI July 2023: +3.2% YoYCPI August 2023: +3.7% YoYCPI September 2023: +3.7% YoYCPI October 2023: +3.2% YoYCPI November 2023: +3.1% YoYCPI December 2023: +3.4% YoYCPI January 2024: +3.1% YoYCPI February 2024: +3.2% YoYCPI March 2024: +3.5% YoYCPI April 2024: +3.4% YoYCPI May 2024: +3.3% YoYCPI June 2024: +3.0% YoYCPI July 2024: +2.9% YoYCPI August 2024: +2.1% YoYCPI September 2024: +2.3% YoYCPI October 2024: +2.6% YoYCPI November 2024: +2.7% YoYCPI December 2024: +2.5% YoYCPI January 2025: +2.5% YoYCPI February 2025: +2.6% YoYCPI March 2025: +3.0% YoYCPI April 2025: +2.8% YoYCPI May 2025: +2.4% YoYCPI June 2025: +2.7% YoYCPI July 2025: +2.7% YoYCPI August 2025: +2.9% YoYCPI September 2025: +3.1% YoYCPI November 2025: +2.6% YoYCPI December 2025: +2.7% YoYCPI January 2026: +2.4% YoYCPI February 2026: +0.5% YoYCPI March 2026: +2.7% YoYCPI April 2026: +3.2% YoYCPI May 2026: +3.1% YoYCPI June 2026: +3.0% YoYCPI July 2026: +3.0% YoYNext CPI 2026-09-112020-01-29: Hold · 1.5% – 1.75%2020-03-03: Cut 50 bps · 1% – 1.25%2020-03-15: Cut 100 bps · 0% – 0.25%2020-04-29: Hold · 0% – 0.25%2020-06-10: Hold · 0% – 0.25%2020-07-29: Hold · 0% – 0.25%2020-09-16: Hold · 0% – 0.25%2020-11-05: Hold · 0% – 0.25%2020-12-16: Hold · 0% – 0.25%2021-01-27: Hold · 0% – 0.25%2021-03-17: Hold · 0% – 0.25%2021-04-28: Hold · 0% – 0.25%2021-06-16: Hold · 0% – 0.25%2021-07-28: Hold · 0% – 0.25%2021-09-22: Hold · 0% – 0.25%2021-11-03: Hold · 0% – 0.25%2021-12-15: Hold · 0% – 0.25%2022-01-26: Hold · 0% – 0.25%2022-03-16: Hike 25 bps · 0.25% – 0.5%2022-05-04: Hike 50 bps · 0.75% – 1%2022-06-15: Hike 75 bps · 1.5% – 1.75%2022-07-27: Hike 75 bps · 2.25% – 2.5%2022-09-21: Hike 75 bps · 3% – 3.25%2022-11-02: Hike 75 bps · 3.75% – 4%2022-12-14: Hike 50 bps · 4.25% – 4.5%2023-02-01: Hike 25 bps · 4.5% – 4.75%2023-03-22: Hike 25 bps · 4.75% – 5%2023-05-03: Hike 25 bps · 5% – 5.25%2023-06-14: Hold · 5% – 5.25%2023-07-26: Hike 25 bps · 5.25% – 5.5%2023-09-20: Hold · 5.25% – 5.5%2023-11-01: Hold · 5.25% – 5.5%2023-12-13: Hold · 5.25% – 5.5%2024-01-31: Hold · 5.25% – 5.5%2024-03-20: Hold · 5.25% – 5.5%2024-05-01: Hold · 5.25% – 5.5%2024-06-12: Hold · 5.25% – 5.5%2024-07-31: Hold · 5.25% – 5.5%2024-09-18: Cut 50 bps · 4.75% – 5%2024-11-07: Cut 25 bps · 4.5% – 4.75%2024-12-18: Cut 25 bps · 4.25% – 4.5%2025-01-29: Hold · 4.25% – 4.5%2025-03-19: Hold · 4.25% – 4.5%2025-05-07: Hold · 4.25% – 4.5%2025-06-18: Hold · 4.25% – 4.5%2025-07-30: Hold · 4.25% – 4.5%2025-09-17: Cut 25 bps · 4% – 4.25%2025-10-29: Cut 25 bps · 3.75% – 4%2025-12-10: Cut 25 bps · 3.5% – 3.75%2026-01-28: Hold · 3.5% – 3.75%2026-03-18: Hold · 3.5% – 3.75%2026-04-29: Hold · 3.5% – 3.75%2026-06-17: Hold · 3.5% – 3.75%2026-07-29: Hold · 3.5% – 3.75%Next FOMC 2026-09-16PERCENT
  • Funds rate
  • CPI YoY
  • Cut
  • Hold
  • Hike
  • Dashed · 2% CPI guide

  1. FOMC · Wed, Sep 16, 2026

    Next meeting

    At 3.63% (pending)

  2. CPI · Fri, Sep 11, 2026

    Next release

    At +3.0% YoY (pending)

  3. CPI · Wed, Aug 12, 2026

    July 2026

    +3.0% YoY

  4. FOMC · Wed, Jul 29, 2026

    Hold

    3.5% – 3.75%

  5. CPI · Tue, Jul 14, 2026

    June 2026

    +3.0% YoY

  6. FOMC · Wed, Jun 17, 2026

    Hold

    3.5% – 3.75%

  7. CPI · Wed, Jun 10, 2026

    May 2026

    +3.1% YoY

  8. CPI · Tue, May 12, 2026

    April 2026

    +3.2% YoY

  9. FOMC · Wed, Apr 29, 2026

    Hold

    3.5% – 3.75%

  10. CPI · Fri, Apr 10, 2026

    March 2026

    +2.7% YoY

  11. FOMC · Wed, Mar 18, 2026

    Hold

    3.5% – 3.75%

  12. CPI · Wed, Mar 11, 2026

    February 2026

    +0.5% YoY

  13. CPI · Fri, Feb 13, 2026

    January 2026

    +2.4% YoY

  14. FOMC · Wed, Jan 28, 2026

    Hold

    3.5% – 3.75%

  15. CPI · Tue, Jan 13, 2026

    December 2025

    +2.7% YoY

  16. CPI · Thu, Dec 18, 2025

    November 2025

    +2.6% YoY

  17. FOMC · Wed, Dec 10, 2025

    Cut 25 bps

    3.5% – 3.75%

  18. FOMC · Wed, Oct 29, 2025

    Cut 25 bps

    3.75% – 4%

  19. CPI · Fri, Oct 24, 2025

    September 2025

    +3.1% YoY

  20. FOMC · Wed, Sep 17, 2025

    Cut 25 bps

    4% – 4.25%

  21. CPI · Thu, Sep 11, 2025

    August 2025

    +2.9% YoY

  22. CPI · Tue, Aug 12, 2025

    July 2025

    +2.7% YoY

  23. FOMC · Wed, Jul 30, 2025

    Hold

    4.25% – 4.5%

  24. CPI · Tue, Jul 15, 2025

    June 2025

    +2.7% YoY

  25. FOMC · Wed, Jun 18, 2025

    Hold

    4.25% – 4.5%

  26. CPI · Wed, Jun 11, 2025

    May 2025

    +2.4% YoY

  27. CPI · Tue, May 13, 2025

    April 2025

    +2.8% YoY

  28. FOMC · Wed, May 7, 2025

    Hold

    4.25% – 4.5%

  29. CPI · Thu, Apr 10, 2025

    March 2025

    +3.0% YoY

  30. FOMC · Wed, Mar 19, 2025

    Hold

    4.25% – 4.5%

  31. CPI · Wed, Mar 12, 2025

    February 2025

    +2.6% YoY

  32. CPI · Wed, Feb 12, 2025

    January 2025

    +2.5% YoY

  33. FOMC · Wed, Jan 29, 2025

    Hold

    4.25% – 4.5%

  34. CPI · Wed, Jan 15, 2025

    December 2024

    +2.5% YoY

  35. FOMC · Wed, Dec 18, 2024

    Cut 25 bps

    4.25% – 4.5%

  36. CPI · Wed, Dec 11, 2024

    November 2024

    +2.7% YoY

  37. CPI · Wed, Nov 13, 2024

    October 2024

    +2.6% YoY

  38. FOMC · Thu, Nov 7, 2024

    Cut 25 bps

    4.5% – 4.75%

  39. CPI · Thu, Oct 10, 2024

    September 2024

    +2.3% YoY

  40. FOMC · Wed, Sep 18, 2024

    Cut 50 bps

    4.75% – 5%

  41. CPI · Wed, Sep 11, 2024

    August 2024

    +2.1% YoY

  42. CPI · Wed, Aug 14, 2024

    July 2024

    +2.9% YoY

  43. FOMC · Wed, Jul 31, 2024

    Hold

    5.25% – 5.5%

  44. CPI · Thu, Jul 11, 2024

    June 2024

    +3.0% YoY

  45. FOMC · Wed, Jun 12, 2024

    Hold

    5.25% – 5.5%

  46. CPI · Wed, Jun 12, 2024

    May 2024

    +3.3% YoY

  47. CPI · Wed, May 15, 2024

    April 2024

    +3.4% YoY

  48. FOMC · Wed, May 1, 2024

    Hold

    5.25% – 5.5%

  49. CPI · Wed, Apr 10, 2024

    March 2024

    +3.5% YoY

  50. FOMC · Wed, Mar 20, 2024

    Hold

    5.25% – 5.5%

  51. CPI · Tue, Mar 12, 2024

    February 2024

    +3.2% YoY

  52. CPI · Tue, Feb 13, 2024

    January 2024

    +3.1% YoY

  53. FOMC · Wed, Jan 31, 2024

    Hold

    5.25% – 5.5%

  54. CPI · Thu, Jan 11, 2024

    December 2023

    +3.4% YoY

  55. FOMC · Wed, Dec 13, 2023

    Hold

    5.25% – 5.5%

  56. CPI · Tue, Dec 12, 2023

    November 2023

    +3.1% YoY

  57. CPI · Tue, Nov 14, 2023

    October 2023

    +3.2% YoY

  58. FOMC · Wed, Nov 1, 2023

    Hold

    5.25% – 5.5%

  59. CPI · Thu, Oct 12, 2023

    September 2023

    +3.7% YoY

  60. FOMC · Wed, Sep 20, 2023

    Hold

    5.25% – 5.5%

  61. CPI · Wed, Sep 13, 2023

    August 2023

    +3.7% YoY

  62. CPI · Thu, Aug 10, 2023

    July 2023

    +3.2% YoY

  63. FOMC · Wed, Jul 26, 2023

    Hike 25 bps

    5.25% – 5.5%

  64. CPI · Wed, Jul 12, 2023

    June 2023

    +3.0% YoY

  65. FOMC · Wed, Jun 14, 2023

    Hold

    5% – 5.25%

  66. CPI · Tue, Jun 13, 2023

    May 2023

    +4.0% YoY

  67. CPI · Wed, May 10, 2023

    April 2023

    +4.9% YoY

  68. FOMC · Wed, May 3, 2023

    Hike 25 bps

    5% – 5.25%

  69. CPI · Wed, Apr 12, 2023

    March 2023

    +5.0% YoY

  70. FOMC · Wed, Mar 22, 2023

    Hike 25 bps

    4.75% – 5%

  71. CPI · Tue, Mar 14, 2023

    February 2023

    +6.0% YoY

  72. CPI · Tue, Feb 14, 2023

    January 2023

    +6.4% YoY

  73. FOMC · Wed, Feb 1, 2023

    Hike 25 bps

    4.5% – 4.75%

  74. CPI · Thu, Jan 12, 2023

    December 2022

    +6.5% YoY

  75. FOMC · Wed, Dec 14, 2022

    Hike 50 bps

    4.25% – 4.5%

  76. CPI · Tue, Dec 13, 2022

    November 2022

    +7.1% YoY

  77. CPI · Thu, Nov 10, 2022

    October 2022

    +7.7% YoY

  78. FOMC · Wed, Nov 2, 2022

    Hike 75 bps

    3.75% – 4%

  79. CPI · Thu, Oct 13, 2022

    September 2022

    +8.2% YoY

  80. FOMC · Wed, Sep 21, 2022

    Hike 75 bps

    3% – 3.25%

  81. CPI · Tue, Sep 13, 2022

    August 2022

    +8.3% YoY

  82. CPI · Wed, Aug 10, 2022

    July 2022

    +8.5% YoY

  83. FOMC · Wed, Jul 27, 2022

    Hike 75 bps

    2.25% – 2.5%

  84. CPI · Wed, Jul 13, 2022

    June 2022

    +9.1% YoY

  85. FOMC · Wed, Jun 15, 2022

    Hike 75 bps

    1.5% – 1.75%

  86. CPI · Fri, Jun 10, 2022

    May 2022

    +8.6% YoY

  87. CPI · Wed, May 11, 2022

    April 2022

    +8.3% YoY

  88. FOMC · Wed, May 4, 2022

    Hike 50 bps

    0.75% – 1%

  89. CPI · Tue, Apr 12, 2022

    March 2022

    +8.5% YoY

  90. FOMC · Wed, Mar 16, 2022

    Hike 25 bps

    0.25% – 0.5%

  91. CPI · Thu, Mar 10, 2022

    February 2022

    +7.9% YoY

  92. CPI · Thu, Feb 10, 2022

    January 2022

    +7.5% YoY

  93. FOMC · Wed, Jan 26, 2022

    Hold

    0% – 0.25%

  94. CPI · Wed, Jan 12, 2022

    December 2021

    +7.0% YoY

  95. FOMC · Wed, Dec 15, 2021

    Hold

    0% – 0.25%

  96. CPI · Fri, Dec 10, 2021

    November 2021

    +6.8% YoY

  97. CPI · Wed, Nov 10, 2021

    October 2021

    +6.2% YoY

  98. FOMC · Wed, Nov 3, 2021

    Hold

    0% – 0.25%

  99. CPI · Wed, Oct 13, 2021

    September 2021

    +5.4% YoY

  100. FOMC · Wed, Sep 22, 2021

    Hold

    0% – 0.25%

  101. CPI · Tue, Sep 14, 2021

    August 2021

    +5.3% YoY

  102. CPI · Wed, Aug 11, 2021

    July 2021

    +5.4% YoY

  103. FOMC · Wed, Jul 28, 2021

    Hold

    0% – 0.25%

  104. CPI · Tue, Jul 13, 2021

    June 2021

    +5.4% YoY

  105. FOMC · Wed, Jun 16, 2021

    Hold

    0% – 0.25%

  106. CPI · Thu, Jun 10, 2021

    May 2021

    +5.0% YoY

  107. CPI · Wed, May 12, 2021

    April 2021

    +4.2% YoY

  108. FOMC · Wed, Apr 28, 2021

    Hold

    0% – 0.25%

  109. CPI · Tue, Apr 13, 2021

    March 2021

    +2.6% YoY

  110. FOMC · Wed, Mar 17, 2021

    Hold

    0% – 0.25%

  111. CPI · Wed, Mar 10, 2021

    February 2021

    +1.7% YoY

  112. CPI · Wed, Feb 10, 2021

    January 2021

    +1.4% YoY

  113. FOMC · Wed, Jan 27, 2021

    Hold

    0% – 0.25%

  114. CPI · Wed, Jan 13, 2021

    December 2020

    +1.4% YoY

  115. FOMC · Wed, Dec 16, 2020

    Hold

    0% – 0.25%

  116. CPI · Thu, Dec 10, 2020

    November 2020

    +1.2% YoY

  117. CPI · Thu, Nov 12, 2020

    October 2020

    +1.2% YoY

  118. FOMC · Thu, Nov 5, 2020

    Hold

    0% – 0.25%

  119. CPI · Tue, Oct 13, 2020

    September 2020

    +1.4% YoY

  120. FOMC · Wed, Sep 16, 2020

    Hold

    0% – 0.25%

  121. CPI · Fri, Sep 11, 2020

    August 2020

    +1.3% YoY

  122. CPI · Wed, Aug 12, 2020

    July 2020

    +1.0% YoY

  123. FOMC · Wed, Jul 29, 2020

    Hold

    0% – 0.25%

  124. CPI · Tue, Jul 14, 2020

    June 2020

    +0.6% YoY

  125. FOMC · Wed, Jun 10, 2020

    Hold

    0% – 0.25%

  126. CPI · Wed, Jun 10, 2020

    May 2020

    +0.1% YoY

  127. CPI · Tue, May 12, 2020

    April 2020

    +0.3% YoY

  128. FOMC · Wed, Apr 29, 2020

    Hold

    0% – 0.25%

  129. CPI · Fri, Apr 10, 2020

    March 2020

    +1.5% YoY

  130. FOMC · Sun, Mar 15, 2020

    Cut 100 bps

    0% – 0.25%

  131. CPI · Wed, Mar 11, 2020

    February 2020

    +2.3% YoY

  132. FOMC · Tue, Mar 3, 2020

    Cut 50 bps

    1% – 1.25%

  133. CPI · Thu, Feb 13, 2020

    January 2020

    +2.5% YoY

  134. FOMC · Wed, Jan 29, 2020

    Hold

    1.5% – 1.75%

Recent Fed decisions

  1. Tue, Jul 28 – 29 Wed 2026

    Hold

    3.5% – 3.75%

  2. Tue, Jun 16 – 17 Wed 2026

    Hold

    3.5% – 3.75%

  3. Tue, Apr 28 – 29 Wed 2026

    Hold

    3.5% – 3.75%

  4. Tue, Mar 17 – 18 Wed 2026

    Hold

    3.5% – 3.75%

  5. Tue, Jan 27 – 28 Wed 2026

    Hold

    3.5% – 3.75%

  6. Tue, Dec 9 – 10 Wed 2025

    Cut 25 bps

    3.5% – 3.75%

  7. Tue, Oct 28 – 29 Wed 2025

    Cut 25 bps

    3.75% – 4%

  8. Tue, Sep 16 – 17 Wed 2025

    Cut 25 bps

    4% – 4.25%

  9. Tue, Jul 29 – 30 Wed 2025

    Hold

    4.25% – 4.5%

  10. Tue, Jun 17 – 18 Wed 2025

    Hold

    4.25% – 4.5%

  11. Tue, May 6 – 7 Wed 2025

    Hold

    4.25% – 4.5%

  12. Tue, Mar 18 – 19 Wed 2025

    Hold

    4.25% – 4.5%

Recent CPI prints

  1. July 2026

    Released Wed, Aug 12, 2026

    +3.0% YoY+0.1% MoM

  2. June 2026

    Released Tue, Jul 14, 2026

    +3.0% YoY+0.4% MoM

  3. May 2026

    Released Wed, Jun 10, 2026

    motor vehicle insurancehousehold furnishings and operations

    +3.1% YoY+0.5% MoM

  4. April 2026

    Released Tue, May 12, 2026

    +3.2% YoY+0.6% MoM

  5. March 2026

    Released Fri, Apr 10, 2026

    +2.7% YoY+0.9% MoM

  6. February 2026

    Released Wed, Mar 11, 2026

    +0.5% YoY+0.3% MoM

  7. January 2026

    Released Fri, Feb 13, 2026

    used cars and truckshousehold furnishings and operations

    +2.4% YoY+0.2% MoM

  8. December 2025

    Released Tue, Jan 13, 2026

    communicationused cars and trucks

    +2.7% YoY+0.3% MoM

  9. November 2025

    Released Thu, Dec 18, 2025

    +2.6% YoY+0.2% MoM

  10. September 2025

    Released Fri, Oct 24, 2025

    shelterairline fares

    +3.1% YoY+0.3% MoM

  11. August 2025

    Released Thu, Sep 11, 2025

    medical carerecreation

    +2.9% YoY+0.4% MoM

  12. July 2025

    Released Tue, Aug 12, 2025

    sheltermedical care

    +2.7% YoY+0.2% MoM

Schedules: Federal Reserve FOMC calendars · BLS CPI release schedule. FOMC dates stay tentative until confirmed at the prior meeting. FOMC and CPI excerpts are taken from the official releases (stored via Admin Fed sync), not AI-written. Mortgage rates also move with term premiums and credit spreads — see Market Pulse for local inventory context.