SUMMARY OF FED DECISION (7/29/2026): The Kobeissi Letter
1. Fed leaves rates unchanged for the 5th straight meeting
2. Fed votes 9-3 to hold benchmark rate in 3.50%-3.75% zone
3. Hammack, Kashkari, and Logan dissent in favor of rate hike
4. Fed says economic activity is expanding at a “solid pace” despite uncertainty
5. Fed says job gains have “kept pace with the workforce”
6. Fed says it remains committed to its 2% inflation goal
The longest Fed pause since the 2008 cycle continues.
I LOVE SUMMARIES 🙂
Notice where short rates have gone lately, relative to Fed’s benchmark.
https://danericselliottwaves.org/wp-content/uploads/2026/07/UST6M.png
The other governors, Warsh included, were cowards.