The Fed

When is the next Fed meeting?

9 December

The Fed’s next interest rate decision is on Wednesday 9 December 2026, at 2 p.m. in Washington. Fed funds futures price a 100% chance of a rise.

Statement , the chair’s press conference half an hour later.

What futures price

  • Cut0%
  • Hold0%
  • Hike100%

The chances fed funds futures imply for Wednesday 9 December 2026, not our forecast: the effective fed funds rate is 3.88% now, and the futures price 4.16% after the decision. Moves of a quarter point.

What is expected

The Fed's rate decision is due on December 9, with the current rate at 3.88%. Futures prices put a 100% chance on a rate hike, and 0% on a hold or a cut.

  • A rate hike at the December decision: A rise would lift borrowing costs above the current 3.88%. It would tend to push bond yields and the dollar higher.
  • A hold at the current rate: Keeping rates at 3.88% would go against what futures price, which could catch markets by surprise.
  • A rate cut instead: A cut would lower the rate from 3.88%, which futures price at 0%. It would tend to weaken the dollar and bond yields.

Written by our newsroom’s AI from our stories; how markets usually take each outcome, not a forecast.

The Fed’s decision days

  • Wednesday 9 December 2026
  • Wednesday 27 January 2027
  • Wednesday 17 March 2027
  • Wednesday 28 April 2027
  • Wednesday 9 June 2027
  • Wednesday 28 July 2027
  • Wednesday 15 September 2027
  • Wednesday 27 October 2027
  • Wednesday 8 December 2027

The second day of each two-day meeting of the Federal Open Market Committee. We follow each decision live on the day.

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