Fed Rate Decisions & Bitcoin: FOMC Tracker (Updated Every Meeting)

Every Federal Reserve rate decision since September 2025, with votes, dissents, Fed projections and the next FOMC dates, plus what each move means for Bitcoin and crypto. Current range: 3.75%-4.00%.

Oct 10, 2026 - 22:06

Updated: 2 days ago

Fed Rate Decisions & Bitcoin: FOMC Tracker (Updated Every Meeting)

Last updated: October 10, 2026 · Current federal funds target range: 3.75%–4.00% (set September 16, 2026) · Next FOMC decision: Wednesday, October 28, 2026, at 2:00 p.m. ET (7:00 p.m. Paris) · Source: Federal Reserve

Key takeaways

The Fed raised rates in September 2026, by a quarter point to 3.75%–4.00%, its first hike since 2023. The vote was unanimous (12–0).
Before that, the Fed cut three times in late 2025 (September, October, December) and then held at 3.50%–3.75% for five meetings in 2026, with dissents pulling in both directions.
In the September 2026 projections, the median FOMC participant sees the federal funds rate at 4.1% at the end of 2026, which is consistent with one more quarter-point increase this year, and 4.1% at the end of 2027.
For crypto, rate decisions matter because they move yields, the dollar and liquidity. Read how Fed interest rates affect Bitcoin.

Every FOMC decision since September 2025

Date	Move	Range after	Vote	Dissents
Sep 16, 2026	Hike +0.25	3.75%–4.00%	12–0	None
Jul 29, 2026	Hold	3.50%–3.75%	9–3	Hammack, Kashkari, Logan (preferred a 0.25 hike)
Jun 17, 2026	Hold	3.50%–3.75%	12–0	None
Apr 29, 2026	Hold	3.50%–3.75%	8–4	Miran (preferred a 0.25 cut); Hammack, Kashkari, Logan (opposed the statement's easing bias)
Mar 18, 2026	Hold	3.50%–3.75%	11–1	Miran (preferred a 0.25 cut)
Jan 28, 2026	Hold	3.50%–3.75%	10–2	Miran, Waller (preferred a 0.25 cut)
Dec 10, 2025	Cut −0.25	3.50%–3.75%	9–3	Miran (preferred a 0.50 cut); Goolsbee, Schmid (preferred no change)
Oct 29, 2025	Cut −0.25	3.75%–4.00%	10–2	Miran (preferred a 0.50 cut); Schmid (preferred no change)
Sep 17, 2025	Cut −0.25	4.00%–4.25%	11–1	Miran (preferred a 0.50 cut)

Source: FOMC statements published by the Federal Reserve on each decision date (for example the September 16, 2026 statement). At its October 2025 meeting the Fed also decided to stop shrinking its balance sheet from December 1, 2025.

What the Fed projects

Median projection, federal funds rate (end of year)	2026	2027	2028	Longer run
September 2026 Summary of Economic Projections	4.1%	4.1%	3.9%	3.2%

Source: Federal Reserve, Summary of Economic Projections, September 16, 2026. Projections are the median of FOMC participants' views, not a commitment. Market-implied odds for each meeting are published by CME Group (FedWatch).

What it means for crypto

Bitcoin has no yield, so it competes with what cash and bonds pay. When the Fed raises rates, holding cash becomes more attractive, the dollar tends to strengthen, liquidity tightens and leverage becomes more expensive: all headwinds for crypto. Cuts tend to do the opposite. In practice, markets move on expectations: much of a decision is priced in before it happens, so the statement wording, the vote split and the Chair's press conference often matter more than the decision itself.

2026 illustrates this. The Fed held for most of the year while headline inflation climbed (see our CPI & Crypto inflation tracker), then hiked in September. For how that fed into Bitcoin and ETF flows, read Bitcoin ahead of the October 2026 FOMC and follow the Bitcoin ETF flows tracker.

Upcoming FOMC meetings

Meeting	Decision day (2:00 p.m. ET)	New projections?
October 27–28, 2026	Wednesday, October 28, 2026	No
December 8–9, 2026	Wednesday, December 9, 2026	Yes
January 26–27, 2027*	Wednesday, January 27, 2027	No
March 16–17, 2027*	Wednesday, March 17, 2027	Yes

Source: Federal Reserve, FOMC calendar. *2027 dates are tentative until confirmed by the Fed.

How we collect the data

Every figure on this page comes from the Federal Reserve's own publications: the policy statement released at 2:00 p.m. ET on decision day, the Summary of Economic Projections and the official meeting calendar. We update this page within hours of each FOMC decision. We do not use third-party estimates for the decision table.

FAQ

What is the current Fed interest rate?

The federal funds target range is 3.75%–4.00%, set on September 16, 2026.

When is the next Fed meeting?

October 27–28, 2026. The decision is announced on Wednesday, October 28, at 2:00 p.m. Eastern Time (7:00 p.m. in Paris), followed by the Chair's press conference.

What is the FOMC?

The Federal Open Market Committee is the Fed body that sets US monetary policy. It has 12 voting members: the seven Fed governors, the president of the New York Fed and four of the other eleven regional Fed presidents on a rotating basis. It meets eight times a year.

Do rate hikes make Bitcoin fall?

Not mechanically. Higher rates are usually a headwind for risk assets, but what moves prices is the gap between the decision and what markets expected. Our guide How Fed interest rates affect Bitcoin explains the channels.