Fed Meeting Schedule 2026 and 2027, With Rate Odds
Last updated November 6, 2026. By Stock Moe, former financial advisor, MBA and finance teacher.
Disclosure: Some links on this page are affiliate links. If you open an account through them, Stock Moe gets paid by Webull or Kalshi at no extra cost to you. I only link to products I use myself. This is not financial advice.
The next Fed meeting is December 8 to 9, 2026, and the rate decision comes out at 2:00 PM ET on Wednesday, December 9. As of November 6, 2026, traders put the odds of a quarter point hike to 4.00 to 4.25 percent at about 79 percent on both the CME FedWatch tool and Kalshi. The Fed meeting schedule for 2027 has eight tentative meetings, starting January 26 to 27, although Chair Kevin Warsh says one of them will be a strategy meeting with no rate vote.
I watch these dates the way a football coach watches the schedule. Every one of them can move mortgage rates, stocks and crypto in a single afternoon. Below is the full FOMC meeting schedule for 2026 and 2027, what was decided at every 2026 meeting, what the odds say for the next one, and how I use those odds without gambling the rent.
Key takeaways
- Next Fed meeting: December 8 to 9, 2026. Statement at 2:00 PM ET on December 9, with new economic projections.
- The federal funds rate is 3.75 to 4.00 percent after a quarter point hike on September 16, 2026, and a hold on October 28.
- December odds as of November 6, 2026: about 79 percent for a hike and about 21 percent for a hold, per CME FedWatch and Kalshi.
- The 2027 schedule lists eight meetings: January 26 to 27, March 16 to 17, April 27 to 28, June 8 to 9, July 27 to 28, September 14 to 15, October 26 to 27 and December 7 to 8.
- Warsh said on October 28 that one 2027 meeting and two 2028 meetings will focus on strategy with no rate vote, so expect seven decisions in 2027 and six in 2028.
- When is the next Fed meeting?
- FOMC meeting schedule 2026 and every decision
- Fed meeting schedule 2027
- Why the Fed will vote less often in 2027 and 2028
- What are the odds for the December meeting?
- Rate odds for the next three meetings
- How to follow a Fed decision day step by step
- What the Fed meeting means for your money
- Can you trade the Fed decision?
- Common questions
When is the next Fed meeting?
The next meeting of the Federal Open Market Committee, the group inside the Federal Reserve that sets interest rates, runs Tuesday, December 8 and Wednesday, December 9, 2026. That is the last meeting of the year. The Fed’s own meeting calendar marks it with an asterisk, which means it comes with a new Summary of Economic Projections, the famous dot plot of where each official thinks rates are headed.
Here is the timing that matters. The committee meets behind closed doors for two days. The policy statement is released at 2:00 PM ET on the second day, and the Fed chair holds a press conference that afternoon. The minutes come out three weeks later, so the December minutes will land in late December or early January.
If you are reading this after December 9, the next meeting after that is January 26 to 27, 2027.
FOMC meeting schedule 2026 and every decision
The Fed holds eight regularly scheduled meetings a year. Here is the full FOMC meeting schedule for 2026, with what the committee did at each one, taken from each statement on the Federal Reserve’s website. An asterisk means the meeting came with new economic projections.
| Meeting (2026) | Decision | Target range after | Vote |
|---|---|---|---|
| January 27 to 28 | Hold | 3.50% to 3.75% | Two dissents for a cut (Miran, Waller) |
| March 17 to 18* | Hold | 3.50% to 3.75% | One dissent for a cut (Miran) |
| April 28 to 29 | Hold | 3.50% to 3.75% | Four dissents (Miran for a cut; Hammack, Kashkari, Logan on the statement) |
| June 16 to 17* | Hold | 3.50% to 3.75% | 12 to 0 |
| July 28 to 29 | Hold | 3.50% to 3.75% | 9 to 3, three dissents for a hike |
| September 15 to 16* | Hike 0.25 point | 3.75% to 4.00% | 12 to 0 |
| October 27 to 28 | Hold | 3.75% to 4.00% | 10 to 2, two dissents for a hike |
| December 8 to 9* | Pending | Decision December 9 | Pending |
Read that table from top to bottom and you can see the story of the year. In January, two officials wanted a rate cut. By July, three officials, Beth Hammack, Neel Kashkari and Lorie Logan, wanted a hike. In September the whole committee voted 12 to 0 to raise rates a quarter point. In October the Fed held, but Lisa Cook and Beth Hammack dissented because they wanted another hike right away. The October statement said inflation “remains elevated” and that the committee “will deliver price stability.”
That is why the December meeting matters so much. The committee went from officials asking for cuts in January to a unanimous hike in September, and the people who dissented in October were asking for exactly what the market now expects in December.
Fed meeting schedule 2027
The Fed has already posted its tentative Fed meeting schedule for 2027. Each date stays tentative until it is confirmed at the meeting right before it, so check the official calendar before you plan around one.
| Meeting (2027) | Decision day | New projections? |
|---|---|---|
| January 26 to 27 | Wednesday, January 27 | No |
| March 16 to 17 | Wednesday, March 17 | Yes |
| April 27 to 28 | Wednesday, April 28 | No |
| June 8 to 9 | Wednesday, June 9 | Yes |
| July 27 to 28 | Wednesday, July 28 | No |
| September 14 to 15 | Wednesday, September 15 | Yes |
| October 26 to 27 | Wednesday, October 27 | No |
| December 7 to 8 | Wednesday, December 8 | Yes |
The first meeting of 2027 also brings the yearly change in who votes. The Board of Governors and the president of the New York Fed always vote, and four of the other eleven regional bank presidents rotate in each January. That rotation can change how hawkish or dovish the committee looks, so I always look at who is voting before the January meeting.
Why the Fed will vote less often in 2027 and 2028
At his October 28 press conference, Chair Kevin Warsh said the Fed will keep eight meetings a year but will stop voting on rates at some of them. As Wealth Professional reported, he said that in 2027 one meeting “will focus exclusively on broad monetary policy strategy,” with no vote on the federal funds rate and no policy statement, and that he expects two strategy meetings in 2028 and six policy meetings. The report says the change starts in autumn 2027 and is the first change to the eight meeting rhythm since 1981.
Which 2027 meeting becomes the strategy meeting has not been announced. The Fed’s own calendar, last updated October 28, still lists all eight 2027 dates. So my practical advice is simple: treat every date in the table above as a possible decision day until the Fed says otherwise, and check back here, because I will update this page when the Fed names the strategy meeting.
Why should you care? Fewer decision days means each one carries more weight. If the Fed only votes seven times in 2027, a surprise at any one of them can move markets more, because the next chance to change course is further away.
What are the odds for the December meeting?
Two places tell you what traders think the Fed will do. The CME FedWatch tool turns fed funds futures prices into probabilities. As of 12:26 PM CT on November 6, 2026, it showed a 79.1 percent chance of a hike to 4.00 to 4.25 percent in December and a 20.9 percent chance of a hold. One day earlier the hike odds were 66.9 percent, one week earlier 70.7 percent, and one month earlier 68.4 percent.
Kalshi, the CFTC regulated prediction market, lets you trade the decision directly. At 1:43 PM ET on November 6, 2026, the Kalshi Fed decision market for December 9 had a hike of 25 basis points at about 78.5 cents, a hold at about 20.5 cents, and every cut or larger hike at 1 cent or less, using the middle of the bid and ask from Kalshi’s public market data.
How do you read a price like 78.5 cents? A Yes contract on Kalshi pays $1 if the event happens and $0 if it does not. So a price of 78.5 cents means the market, as a group, thinks a hike is about 78.5 percent likely. The fact that two very different markets, futures and event contracts, both land near 79 percent tells me this is the real consensus, not one noisy screen.
The consensus can be wrong. The odds jumped about 12 points in a single day, from 66.9 to 79.1 percent on FedWatch. Between now and December 9 the Fed will see another round of inflation and jobs data, and any one report can swing these odds by 20 points. A 79 percent favorite loses about one time in five.
Want to follow the odds yourself? Webull offers prediction markets in the same app you use for stocks, options and crypto, so you can watch the Fed odds right next to your portfolio. Open a Webull account through my link (affiliate link, I get paid if you sign up). Any offer is subject to Webull’s current terms and eligibility, so check the offer page before you deposit. I walk through the fees and rules in my Webull prediction markets guide.
Prefer to trade on the exchange itself? Open a Kalshi account through my link (affiliate link, I get paid if you sign up). On November 5, 2026, Kalshi’s referral page read “STOCKMOE sent you $50 on Kalshi” and “Trade $25 to unlock,” for new customers only. That offer is subject to Kalshi’s current terms and eligibility, so check the offer page for the current terms before you deposit. Kalshi is available only where it operates and only to adults. Event contracts can lose money, so trade only money you can afford to lose.
Rate odds for the next three meetings
Kalshi runs a separate market for every Fed meeting through January 2028. Each one asks what the Fed will do at that single meeting. Here are the three nearest, as of 1:43 PM ET on November 6, 2026, using the middle of the bid and ask.
| Meeting | Hold | Hike 0.25 point | Cut 0.25 point |
|---|---|---|---|
| December 9, 2026 | 20.5% | 78.5% | 1% |
| January 27, 2027 | 74.5% | 20.5% | 2.5% |
| March 17, 2027 | 54% | 38.5% | 4% |
Put those together and the market’s base case is one more hike in December, then a pause in January, with a real chance of another hike by March. Very little money is on a cut any time soon. The odds for meetings later in 2027 trade far less often, so I do not lean on them. Thin markets can show a price that only a handful of traders agreed on.
How to follow a Fed decision day step by step
How to follow a Federal Reserve rate decision day, step by step.
- Check the calendar the week before
Open the Federal Reserve meeting calendar and confirm the date. For December 2026 the decision comes at 2:00 PM ET on Wednesday, December 9, and it comes with new economic projections.
- Write down the odds two days before
Look at CME FedWatch and the Kalshi Fed decision market and write down the hike, hold and cut odds. That is your baseline. The market reaction on the day depends on how the decision compares with these odds, not on the decision itself.
- Watch the data that moves the odds
Inflation and jobs reports between now and the meeting can swing the odds by 20 points or more. Check the economic calendar for the release dates and see how the odds react after each one.
- Read the statement at 2:00 PM ET
The policy statement posts on the Fed website at 2:00 PM ET. Read the first paragraph for the decision and the last paragraph for who dissented and why. Dissents tell you where the next move could come from.
- Listen to the press conference
The chair speaks that afternoon. Markets often move more on the answers than on the statement, especially on any hint about the next meeting.
- Check the dot plot at projection meetings
At meetings with an asterisk, the Fed publishes where each official sees rates at the end of each year. Compare the median dot with what the Kalshi markets for the next meetings are pricing.
- Wait before you act
The first move after 2:00 PM is often reversed by the close. Wait for the closing candle on QQQ before you make any trade off a Fed day.
What the Fed meeting means for your money
Mortgage rates
The Fed does not set mortgage rates, but it moves the bond market that does. Freddie Mac’s November 5, 2026 survey put the 30 year fixed rate at 7.18 percent, down from 7.24 percent a week earlier and the third weekly drop in a row. A year ago it was 6.22 percent. A December hike that is already priced in may not push mortgage rates up much. A surprise could. I track that every week in my mortgage rate predictions for next week.
Stocks
Higher rates make future profits worth less today, which hits growth stocks hardest. QQQ, the Nasdaq 100 fund, closed November 5, 2026 at $647.05, about 15 percent below its October 6 high of $762.86, per Webull data. In my view, some of that drop is the market pricing in a more aggressive Fed. My buy zone and the levels I am watching are on my stock market levels tracker, which I update after every market video.
Savings and debt
If you hold cash, a hike usually means a little more interest on high yield savings and money market funds. If you carry a credit card balance or a variable rate loan, a hike usually means you pay more, because those rates tend to follow the Fed within a statement cycle or two. Paying down variable rate debt before December is a plain, guaranteed win compared with guessing on the Fed.
Can you trade the Fed decision?
Yes. Kalshi lists a market for every Fed meeting, with outcomes like hike 25 basis points, hold, and cut 25 basis points. You buy Yes or No, and each contract settles at $1 or $0 after the Fed announces. If you are new, start with my $25 walkthrough of how Kalshi works, then read my guide to Kalshi fees, withdrawals and taxes so you know what each trade really costs.
Here is the honest math. If you buy the December hike at 78.5 cents and the Fed hikes, you make about 21.5 cents per contract before fees. If the Fed holds, you lose the whole 78.5 cents. You are risking almost four dollars to make one. That only makes sense if you believe the true chance is clearly higher than the price, and you have a reason the market does not.
Three rules I would use on any Fed market: never put more than a small slice of your trading money on one meeting, write down your own odds before you look at the price, and sit out when your number is within a few points of the market. Most of the time the market is right. I explain where an edge can come from, and where it usually does not, in how to make money on Kalshi.
Fed contracts are event contracts, and they can go to zero. Past results do not predict future results. Trade only money you can afford to lose.
Ready to watch the next decision live? Open a Webull account through my link (affiliate link, I get paid if you sign up) to see prediction markets next to your stocks, or open a Kalshi account through my link (affiliate link, I get paid if you sign up) to trade on the exchange itself. Both offers are subject to each company’s current terms and eligibility, so check the offer pages before you deposit.
I break down every Fed meeting, what the odds did and what I am doing about it in my free Sunday Letter. It lands every Sunday morning before the week’s data starts.
Common questions
The next Fed meeting is December 8 to 9, 2026. The rate decision is released at 2:00 PM ET on Wednesday, December 9, along with new economic projections. The first meeting of 2027 is January 26 to 27.
The Federal Open Market Committee holds eight regularly scheduled meetings a year, about every six weeks, plus other meetings as needed. Starting in 2027, Chair Kevin Warsh says one of the eight will be a strategy meeting with no rate vote, and two will be in 2028.
The policy statement is released at 2:00 PM Eastern time on the second day of the meeting. The chair holds a press conference later that afternoon.
The target range for the federal funds rate is 3.75 to 4.00 percent. The Fed raised it by a quarter point on September 16, 2026, and held it there on October 28, 2026.
Markets think it is likely but not certain. As of November 6, 2026, CME FedWatch showed a 79.1 percent chance of a quarter point hike and Kalshi priced a hike at about 78.5 cents. Inflation and jobs data before December 9 can still change that.
The tentative 2027 dates are January 26 to 27, March 16 to 17, April 27 to 28, June 8 to 9, July 27 to 28, September 14 to 15, October 26 to 27 and December 7 to 8. March, June, September and December come with new economic projections.
Very low for the next few meetings. As of November 6, 2026, Kalshi priced a December cut of a quarter point at about 1 cent, a January 2027 cut at about 2.5 cents and a March 2027 cut at about 4 cents.
The CME FedWatch tool shows probabilities from fed funds futures, and the Kalshi Fed decision markets show prices you can trade. I compare both, because when they agree the odds are more reliable.
Keep reading on Stock Moe
- Webull Prediction Markets: Fees, Rules and How to Trade
- How to Make Money on Kalshi: An Honest 2026 Guide
- Mortgage Rate Predictions for Next Week (Updated Mondays)
Get more from Stock Moe
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Sources
- Federal Reserve, Meeting calendars and information (2026 and 2027 FOMC meetings), last updated October 28, 2026
- Federal Reserve, FOMC statement, October 28, 2026
- Federal Reserve, FOMC statement, September 16, 2026
- Federal Reserve, FOMC statement, July 29, 2026
- Federal Reserve, FOMC statement, June 17, 2026
- Federal Reserve, FOMC statement, April 29, 2026
- Federal Reserve, FOMC statement, March 18, 2026
- Federal Reserve, FOMC statement, January 28, 2026
- CME Group, FedWatch tool, December 9, 2026 meeting probabilities, data as of 12:26 PM CT, November 6, 2026
- Kalshi, Fed decision markets (KXFEDDECISION), public market data, 1:43 PM ET, November 6, 2026
- Wealth Professional, Fed calendar shake up: seven rate votes in 2027, six in 2028, October 2026
- The National News Desk, Fed to cut back on rate setting meetings, Fed chair Warsh says, October 28, 2026
- Freddie Mac, Primary Mortgage Market Survey, November 5, 2026
- Webull market data for QQQ daily bars and 52 week high, November 6, 2026
- Kalshi referral page for Stock Moe, offer wording as of November 5, 2026
I am not a financial advisor and nothing in this article is financial advice. Everything here is my own opinion, for educational and entertainment purposes only. Do your own research and talk to a licensed professional before you make any financial decision.
