Back to today’s briefing

Story perspectives

Fed Warns It May Raise Rates If Inflation Persists

8/20/2026

43 4 Full Breakdown

Summary

Story summary

Federal Reserve (Fed) officials warned they may need to raise short-term rates soon if inflation remains high.
The FOMC voted 9-3 on July 28-29 to keep the federal funds rate at 3.5%-3.75%.
Core PCE inflation stayed around 3% in July, above the 2% target.
Chair Kevin Warsh said he will give less guidance and proposed cutting meetings to six per year.

1 of 1

Story summary

Federal Reserve (Fed) officials warned they may need to raise short-term rates soon if inflation remains high.
The FOMC voted 9-3 on July 28-29 to keep the federal funds rate at 3.5%-3.75%.
Core PCE inflation stayed around 3% in July, above the 2% target.
Chair Kevin Warsh said he will give less guidance and proposed cutting meetings to six per year.