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No Surprise Here: Fed Holds

Official-like:

In support of its goals, the Committee decided to maintain the target range for the federal funds rate at 3?1/2 to 3?3/4 percent. In considering the extent and timing of additional adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks. The Committee is strongly committed to supporting maximum employment and returning inflation to its 2 percent objective.

In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee’s goals. The Committee’s assessments will take into account a wide range of information, including readings on labor market conditions, inflation pressures and inflation expectations, and financial and international developments.

And for the markets:

Effective April 30, 2026, the Federal Open Market Committee directs the Desk to:

  • Undertake open market operations as necessary to maintain the federal funds rate in a target range of 3-1/2 to 3-3/4 percent.
  • Conduct standing overnight repurchase agreement operations at a rate of 3.75 percent.
  • Conduct standing overnight reverse repurchase agreement operations at an offering rate of 3.5 percent and with a per-counterparty limit of $160 billion per day.
  • Increase the System Open Market Account holdings of securities through purchases of Treasury bills and, if needed, other Treasury securities with remaining maturities of 3 years or less to maintain an ample level of reserves.
  • Roll over at auction all principal payments from the Federal Reserve’s holdings of Treasury securities.
  • Reinvest all principal payments from the Federal Reserve’s holdings of agency securities into Treasury bills.”

Wake me up if Powell says anything…

~ure

12 thoughts on “No Surprise Here: Fed Holds”

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  1. Lol… honestly, was anyone expecting a different outcome from them ?
    The Fed is truly stuck in a completely oxymoronic position…. If they raise rates there’s a risk pushing the economy straight into a Weimar style depression. If they hold rates, the dollar and other fiat currencies keep taking pressure and losing value.
    Fro my perspective It’s one of those classic ‘damned if you do, damned if you don’t’ real life changing situations — A lot like watching someone throw darts in a room where every wall they aim is a bad option… you know the old car you still owe money on..do you fix it as it nickels and dimes you to death….
    While the official statement sounds confident, but the reality underneath it is a lot messier…. around the wastelands we call it a SNAFU shit show….
    hey..maybe they should send out more credit cards to keep the economy moving…..the noodle on the table.. just enough you can push the noodle across.. not enough it pulls apart to much and it dissolves in mush..

    • Y’know, were Iran to dump, I have no doubt the envirowackos would suddenly find oil spills [to be] acceptable…

  4. Hmmmm. Fed rates at 1% would mean AI. Not housing. 1% would nicely offset fuel costs increases. Bit late for fertilizer increases. Less deficit spending which might mean Nov democrat healthcare spending. In meantime china issues with Taiwan. Straight Hormuz closed. British actively now shooting down Russian air assets in Ukraine. Seems article 5 invoked.

  5. George,

    The Netanyahu-Trump Iran war of purposeless aggression will be retrospectively considered by most as the trigger for one of the greatest global stock market (and crypto and gold) crashes and greatest recessions and likely global famines in recorded history.

    Oil futures, increased by 7-8.5% today and are in their 2nd Fractal series’ valuation rapid acceleration phase after a 3-phase 1st Fractal series starting on 16 Dec 2025: 15/35/36 days :: a x/2-2.5x/2-2.5x growth series.

    The SPX had its 1982-2026 13/33 year : x/2.5x valuation peak at 330 PM EST 27 April 2026 and has begun it’s hourly crash 1st fractal decay series of 8/13 of 17/17 hours equaling 3 of 6 days.

      • Destabilization of bond and credit markets (credit deflation) is required to move into the realm of the early 1930’s. Collapses in net present of the balloon valuations of equities and real estate did the job before. Widespread drought is the historical omen and instigator of bad economic times. Drought was a major factor in the 30’s of mass forced migrations and diaspora. The energy hyperinflation is a new but potent wrinkle as a potential instigator.
        Will the bottomless purse of modern monetary theory save us this time? Doubts….

  6. off topic but I just came across the trailer to Sleeping Dog – release date May 12 2026

    https://www.youtube.com/watch?v=Kx_anJdFlL4

    “An unprecedented documentary following investigative journalist Jeremy Corbell as he steps into a high-stakes fight to uncover the truth about UAPs. With rare access and insight, Corbell dives deep into a subject long kept hidden, where the stakes of exposure have never been higher. Filmed in secret, Sleeping Dog is the culmination of a decades-long investigation into the UFO phenomenon, featuring insiders both known and unknown, including astronaut Dr. Edgar Mitchell, Col. John B. Alexander, John Lear, Bob Lazar, David Grusch, nuclear chemist Edmund Storms, Cmdr. David Fravor, journalist George Knapp, and many more. “

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