The September 15-16 2026 FOMC raised the federal funds target range by a quarter point to 3.75-4.00% on a unanimous 12-0 vote - the first increase since July 2023 and the first hike of the Warsh chairmanship. The statement said economic activity is expanding at a solid pace with resilient domestic spending, strong productivity growth and robust capital investment, that job gains have kept pace with the workforce, that inflation remains elevated, and that today's action will support a timelier return to the 2% goal. Its forward-guidance sentence is a single clause - the Committee will deliver price stability.