ORACLE report · Oct 17, 2026

“What is the current federal funds rate target range?”

As of the latest official snapshot (Jul 10 2026), the federal funds rate target range is 3.50 % – 3.75 %. This figure is solidly documented in the July 2026 Monetary Policy Report. Older commentary from 2025 and earlier does not contradict this range but is stale for the current rate.

The claim ledger

1
PROVEN
The Federal Open Market Committee kept the target range for the federal funds rate at 3½ % to 3¾ %.
Statement appears in the July 2026 report and shows the range unchanged since the start of 2026.
Monetary Policy Report, July 2026 · Jul 10, 2026 · source
2
PROVEN
The target range has been unchanged since the beginning of 2026.
The report explicitly says the FOMC has maintained the range since the start of the year.
Monetary Policy Report, July 2026 · Jul 10, 2026 · source
3
PROVEN
The July 2026 Monetary Policy Report is an official Federal Reserve publication.
The PDF is hosted on the .gov domain and dated July 10 2026.
Monetary Policy Report, July 2026 · Jul 10, 2026 · source
4
PROVEN
A September 25, 2025 Dallas Fed essay discusses the FOMC’s operating target but gives no numeric range.
The piece explains the role of the fed funds target without stating the current 2025 range.
Options for modernizing the FOMC's operating target interest rate · Sep 25, 2025 · source
5
PROVEN
A December 22, 2025 Levy Institute commentary notes a rate cut earlier in 2025 but does not provide the current target range.
The article is a policy note and lacks a specific post‑2025 target range.
The Fed Lowered Rates Again. Is It Really a Surprise? · Dec 22, 2025 · source
6
GUESSED
No source retrieved after July 10 2026 provides a different federal funds rate target range.
Absence of newer data is inferred from the current set of retrieved passages.
Search retrieval set · Oct 17, 2026

The stale-source check

Sources from Sep 25 2025 (Dallas Fed) and Dec 22 2025 (Levy Institute) predate the July 2026 report and therefore cannot be used to state the current target range; they reflect earlier discussions and possible past cuts.

What would change the answer

—A new FOMC meeting decision after Jul 10 2026 that changes the target range.
—Release of a later Monetary Policy Report (e.g., November 2026) with updated numbers.
—A major economic shock (e.g., recession or inflation surge) prompting an emergency rate adjustment.
—Legislative or leadership changes at the Fed that alter policy stance.

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