La Reserva Federal mantiene los tipos de interés en el 3,75% marcando la segunda reunión consecutiva sin cambios en la política monetaria. La decisión fue aprobada por amplia mayoría, con 11 votos a favor de mantener los tipos y 1 voto en contra.El único voto disidente fue Miran, quien se pronunció a favor de una reducción de los tipos de interés.
En cuanto a las proyecciones de política monetaria la Fed mantiene su escenario de recortes graduales anticipando una bajada de tipos en 2026 y otra reducción adicional en 2027
En el frente de inflación, la proyección del PCE (Personal Consumption Expenditures) ha sido revisada al alza, pasando de 2,4% a 2,7% en comparación con las estimaciones publicadas por la Fed en Diciembre de 2025.
Esta revisión refleja presiones inflacionarias más persistentes de lo previsto, lo que refuerza el enfoque prudente del banco central respecto al calendario de recortes de tipos.
Federal Reserve issues FOMC statement March 18, 2026
Available indicators suggest that economic activity has been expanding at a solid pace. Job gains have remained low, and the unemployment rate has been little changed in recent months. Inflation remains somewhat elevated.
The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. Uncertainty about the economic outlook remains elevated. The implications of developments in the Middle East for the U.S. economy are uncertain. The Committee is attentive to the risks to both sides of its dual mandate.
In support of its goals, the Committee decided to maintain the target range for the federal funds rate at 3‑1/2 to 3‑3/4 percent. In considering the extent and timing of additional adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks. The Committee is strongly committed to supporting maximum employment and returning inflation to its 2 percent objective.
In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee’s goals. The Committee’s assessments will take into account a wide range of information, including readings on labor market conditions, inflation pressures and inflation expectations, and financial and international developments.
Voting for the monetary policy action were Jerome H. Powell, Chair; John C. Williams, Vice Chair; Michael S. Barr; Michelle W. Bowman; Lisa D. Cook; Beth M. Hammack; Philip N. Jefferson; Neel Kashkari; Lorie K. Logan; Anna Paulson; and Christopher J. Waller. Voting against this action was Stephen I. Miran, who preferred to lower the target range for the federal funds rate by 1/4 percentage point at this meeting.
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