When the Fed Fund Meetings Happen in 2026
The Federal Open Market Committee meets eight times a year, roughly every six weeks, with 2026 meetings in January, March, April, June, July, September, October and December. Two have already happened: the committee raised the target range 25 basis points in September, to 3.75%–4.00%, then held it on October 28 by a 10–2 vote.
- Next meeting: December 8–9, 2026, including a Summary of Economic Projections (dot plot).
- Decision and statement: 2:00 p.m. ET on December 9 (7:00 p.m. GMT for UK readers).
- October meeting minutes: November 18, 2026, at 2:00 p.m. ET.
- Aggregator pages still list October 27–28 or April dates, so confirm the date on the Federal Reserve Board calendar before planning around a fed fund rate meeting.
What Actually Gets Decided at an FOMC Meeting
Each federal funds rate meeting sets a target range for the benchmark overnight rate banks charge one another, not a single price. The effective rate was 3.88% on November 9, 2026, per Federal Reserve H.15 data, inside the 3.75%–4.00% range.
The October vote was not unanimous: governors Lisa D. Cook and Beth M. Hammack dissented, preferring a 25 basis point hike. A hold can still carry a hawkish message when dissents point the other way.
- Current target range: 3.75%–4.00%, after the September 2026 increase.
- October 28 vote: 10–2 to hold; Cook and Hammack dissented for a hike.
- Governor Michelle Bowman said inflation is broadening and suggested further hikes (Reuters, November 10).
- Summary of Economic Projections median for end-2026: 4.10% midpoint, versus today's 3.875% midpoint.
How to Read the Statement, the Dot Plot, and the Press Conference
Start with the statement and compare it word by word with the prior version. Changes in how it describes inflation or labor conditions often move yields faster than the rate decision itself.
The dot plot shows each participant's projection for the policy rate, and the median is the figure markets watch. CME Group's analysis found the 2-year Treasury yield moved on five of six no-change decision days, which is why the press conference matters.
- Statement: check the inflation and labor paragraphs against the September text.
- Dissents: count them, since the October vote had two.
- Dot plot: compare the end-2026 median of 4.10% with the prior projection.
- Press conference: the tone of Q&A on the next move can matter more than the decision line.
Which Stocks and Sectors Move Most on Fed Days
Rate-sensitive groups tend to react first, and the mechanism differs by sector. Banks earn on the spread between lending and deposit rates, utilities and REITs carry heavy debt and compete with bond yields, and homebuilders depend on mortgage rates.
Price gaps to targets matter more than sentiment labels: D.R. Horton trades above its median target, while Charles Schwab is down 3.8% over 30 days despite a $104.00 median target. The figures below are from Fintwit's AI investment scores and tracked-investor data as of this writing.
- JPMorgan Chase (JPM): $342.07; investment score 84/100; bullish; median target $375.00; up 2.7% over 30 days; 0.4% of tracked X investors bought, 0.4% sold.
- Charles Schwab (SCHW): $93.03; score 82/100; bullish; median target $104.00; down 3.8% over 30 days; 0.0% bought, 0.4% sold.
- NextEra Energy (NEE): $86.27; score 83/100; bullish; median target $91.00; up 11.5% over 30 days.
- Realty Income (O): $59.54; score 82/100; bullish; median target $62.50; up 9.9% over 30 days.
- D.R. Horton (DHI): $149.70; score 64/100; bearish; median target $142.00; up 11.0% over 30 days; risk rated high.
How to Prepare Your Portfolio Before a Fed Meeting
Position from what is priced in, not from the headline decision. With CME FedWatch at 82.8% for a hike as of November 10, a hike is largely expected, so the surprise would more likely come from guidance or dissents.
Track the live rate and the data behind each decision on our federal funds rate page before the December 9 release.
- Before November 18: read the October minutes for any shift in tone on further hikes.
- Before December 9: confirm the 2:00 p.m. ET release time and current FedWatch odds.
- Size positions for a hold with hawkish guidance, not only for a hike.
- Avoid chasing a single-session move in rate-sensitive names right after the release.
Frequently asked questions
- How often does the Fed hold a fed fund meeting? Eight scheduled meetings a year, roughly every six weeks; in 2026 they fall in January, March, April, June, July, September, October and December.
- Does the Fed meeting always change interest rates? No. The Fed moved only in September 2026, with a 25 basis point hike, and holds can still move stocks and yields when guidance or projections shift.
- How do I find the exact date and time of the next FOMC meeting? Check the Federal Reserve Board's FOMC calendar; the next fed funds rate meeting is December 8–9, 2026, with the statement at 2:00 p.m. ET on December 9, since aggregators often show stale dates.
- Why do stocks sometimes fall after a rate cut? Cuts often come when growth is weakening, so investors may fear lower earnings, and a cut already priced in or paired with a worried statement can also trigger selling.