Thursday, May 07, 2026
PNC Interest Rate Update
April FOMC Meeting April 29, 2026At today’s April FOMC meeting, the Committee voted 8–4 to leave the federal funds target range unchanged at 3.50%–3.75%, marking the third consecutive meeting on hold. The decision was widely expected. However, the meeting stood out for the largest number of dissents in nearly 34 years, highlighting growing divisions within the Committee as inflation pressures from higher energy prices collide with signs of slowing labor market momentum.The FOMC held the target range at
