The Federal Reserve is expected to keep rates unchanged for now despite high prices

WASHINGTON (AP) — Federal Reserve policymakers are losing patience with inflation, which has been stuck above their 2% target for more than five years. But they may not be ready to turn their frustration into action by raising interest rates — not this week anyway. Meeting in Washington Tuesday and Wednesday (July 28-29, 2026), the Fed is expected to keep its benchmark interest rate unchanged. Members of the central bank’s rate-setting committee may not be so reluctant to act when they gather again next Sept. 15-16. Overall, only 29% of Wall Street traders predict that the Fed will raise rates this week. But 76% foresee a rate hike in September.