Fed Enters Blackout Ahead of July 29 Decision as Markets Price an 87% Hold

The Fed entered its communications blackout ahead of the July 28 to 29 meeting, with markets pricing about an 87% chance of a rate hold at 3.50% to 3.75% on July 29.

The Fed entered its communications blackout ahead of the July 28 to 29 meeting, with markets pricing about an 87% chance of a rate hold at 3.50% to 3.75% on July 29.

The June Producer Price Index fell 0.3% as gasoline sank 12%, the first monthly drop of 2026, sharpening the debate over the Fed's July rate decision.

June CPI lands Tuesday, July 14 at 8:30 a.m. ET, the last major inflation reading before the July 28-29 FOMC. Here is what it means for rates, mortgages, and savings.

The U.S. Treasury sold $22 billion of 30-year bonds at 5.058% on July 9, the highest long-bond auction yield since 2007, as foreign demand took nearly 78%.

Federal net interest hit $722.7 billion in the first eight months of fiscal 2026, topping national defense by roughly $92 billion, according to Treasury data.

The national debt closed June at a record $39.46 trillion after a $117 billion one-day jump, putting the $40 trillion mark within reach as soon as this fall.

Fed Chair Kevin Warsh made his first major international appearance at the ECB's Sintra forum, keeping the U.S. prime rate at 6.75% with a hawkish inflation message.

The Fed's preferred inflation gauge rose in May, with headline PCE at 4.1% and core at 3.4%, the highest in years, reinforcing a hawkish hold and a steady 6.75% prime rate.

The U.S. yield curve turned positive again in June 2026 after the long 2022 to 2024 inversion. Here is what an inversion signals and where the curve stands now.

Who holds the $39 trillion U.S. national debt in 2026? Foreign investors own $9.35T led by Japan, the Fed holds about $4.4T, and federal trust funds hold $7.64T.