The minutes: unanimous on the hold, split on what comes next
Minutes of the June 17, 2026 FOMC meeting, released July 8, 2026. They record who voted, and the case a few participants made for a hike.
From the minutes
“In their consideration of monetary policy at this meeting, all participants supported maintaining the current target range for the federal funds rate. … A few participants commented that, in light of these developments, there was a case for raising the target range for the federal funds rate, but those participants indicated that they supported maintaining the current target range at this meeting. Several participants remarked that they did not see the current policy stance as restrictive.”
“Voting for this action: Kevin Warsh, John C. Williams, Michael S. Barr, Michelle W. Bowman, Lisa D. Cook, Beth M. Hammack, Philip N. Jefferson, Neel Kashkari, Lorie K. Logan, Anna Paulson, Jerome H. Powell, and Christopher J. Waller. Voting against this action: None.”
Full text: federalreserve.gov
What this record is: the Committee's own account of its June discussion, published three weeks after the decision. The "current target range" the minutes refer to is 3-1/2 to 3-3/4 percent. It shows the hike case forming behind a unanimous vote; at the next meeting, July 29, three of these voters dissented in favor of an increase. The decision-day record is the companion statement; the full analysis is on the event page.
How we checked this
The quotes above were captured directly from the Federal Reserve's website and compared word-for-word against the published minutes. The source page was saved at capture time so the record stays verifiable even if the page changes. Details of our process are on the methodology page.