Perspectives
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The Fed Report: April 2026
Read More- Target Range Maintained: For the third consecutive meeting, the FOMC maintained the target range for the federal funds rate at 3.50-3.75%. The statement noted that “[d]evelopments in the Middle East are contributing to a high level of uncertainty about the economic outlook” and highlighted the surge in global energy prices as a key contributor to elevated inflation measures.
- Continued FOMC Division: For the seventh consecutive meeting, the FOMC decision was not unanimous, as Fed Governor Stephen Miran voted to lower the target range by 25 basis points. In addition, Cleveland Fed President Beth Hammack, Minneapolis Fed President Neel Kashkari, and Dallas Fed President Lorie Logan supported maintaining the target range for the federal funds rate but did not support the continued inclusion of language in the April statement that indicates an easing bias.
- Chair Powell’s Final Press Conference: Chair Powell emphasized that, while his term as Chair ends on May 15th, he will continue to serve on the Board of Governors for a period of time “to be determined,” which will be driven by his determination that the criminal investigations into him and the Fed are “well and truly over, with transparency and finality.”
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Why Agency MBS: Market Snapshot
Read MoreAgency MBS assets benefit from compelling fundamentals and favorable attributes that make them a critical building block of any investment portfolio.