FOMC Meeting Dates 2026–2027: When Is the Fed Rate Decision
Upcoming FOMC meeting dates
| Meeting | Statement (Warsaw time) | Notes |
|---|---|---|
| Oct 27–28, 2026 | Oct 28, 19:00 (2:00 PM ET) | time difference 5 h; press conference 19:30 |
| Dec 8–9, 2026 | Dec 9, 20:00 (2:00 PM ET) | new projections and dot plot |
| Jan 26–27, 2027 | Jan 27, 20:00 (2:00 PM ET) | tentative date |
| Mar 16–17, 2027 | Mar 17, 19:00 (2:00 PM ET) | projections; time difference 5 h |
Source: FOMC calendar (federalreserve.gov). The Fed confirms the 2027 dates at earlier meetings. The statement always comes at 2:00 PM ET.
When the Fed meets and what time the decision comes out
US interest rates are set by the FOMC at 8 meetings a year. The statement is released on the second day of the meeting at 2:00 PM ET (usually 20:00 in Warsaw), followed by the Fed Chair's press conference at 2:30 PM ET (20:30).
Latest decision: October 28, 2026
On October 28, 2026 the Fed left interest rates unchanged: the target range for the federal funds rate remains 3.75–4.00% (FOMC statement on federalreserve.gov). The vote was 10 to 2 – two committee members preferred a 0.25 percentage point hike. So the market mainly heard the guidance about the future and began pricing a possible hike in December; current expectations are shown by the CME FedWatch tool.
Dow Jones futures (MYM, CME) reacted calmly to the statement itself: −39 points in the first minute, −48 in 15 minutes, −92 in an hour, a one-hour range of 240 points. The bigger move came only after the session, with company earnings – a common picture: a decision in line with expectations rarely makes the day.
How the Dow Jones reacted to Fed decisions in 2026
Price change of the Dow Jones futures contract (MYM, CME exchange) from the last trade before 2:00 PM ET (8:00 PM Warsaw, 7:00 PM in the weeks when the clocks change), calculated trade by trade:
| Decision | 1 min | 15 min | 60 min | 15-min range | 60-min range | First impulse |
|---|---|---|---|---|---|---|
| Oct 28, 2026 | −39 | −48 | −92 | 145 | 240 | held |
| Sep 16, 2026 | −60 | −83 | −607 | 171 | 658 | held |
| Jul 29, 2026 | +146 | −4 | +220 | 388 | 469 | held |
| Jun 17, 2026 | −203 | −269 | −317 | 408 | 408 | held |
| Apr 29, 2026 | −38 | −120 | −19 | 158 | 158 | faded |
| Mar 18, 2026 | +26 | +11 | −260 | 88 | 338 | reversed |
On average the market moves 226 points in 15 minutes and 379 in an hour after a Fed decision. For comparison: 253 and 290 points after CPI, 210 and 256 points after NFP (our tables: US CPI, NFP). More often than data releases, the Fed produces a move that develops over the full hour – including during the press conference at 2:30 PM ET (8:30 PM Warsaw). The direction of the first minute held 4 times out of 6, but on March 18, after a quiet start, the market fell 260 points within the hour.
We practise reading the order book in minutes like these on the free live stream (on the Hetman Index – a training instrument with simulated data) and in the Club (both in Polish). See also: FOMC, interest rates, order flow, economic calendar, Macro data today.
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Frequently asked questions
What time is the Fed decision?
At 2:00 PM New York time, with the press conference at 2:30 PM – usually 20:00 and 20:30 in Warsaw. In daylight-saving transition weeks (e.g. October 28, 2026 and March 17, 2027) it is 19:00 and 19:30 in Warsaw, because the time difference is only 5 hours.
How many times a year does the Fed decide on rates?
Eight times a year, at FOMC meetings. Four of them come with new economic projections and the dot plot.
How do you know what the market expects?
From the prices of Fed funds futures – the CME FedWatch tool gives you a view of them. The market reacts to the gap between the decision and statement and those expectations.
What did the Fed decide on October 28, 2026?
It left interest rates unchanged, in the 3.75–4.00% range. Two FOMC members voted for a 0.25 percentage point hike, so the market focused on the guidance for December – current expectations are shown by CME FedWatch.
How much does the Dow Jones move after a Fed decision?
In 2026 the Dow Jones futures contract moved on average 226 points in 15 minutes and 379 points in an hour after the statement. The biggest move: September 16, 2026, −607 points in an hour.
Educational material, not investment advice. Trading futures involves a high risk of losing capital.