The Federal Reserve kept the target range for the federal funds rate at 2 percent to 2.25 percent during its November 2018 meeting, saying that the labor market has continued to strengthen and that economic activity has been rising at a strong rate while inflation remains near its 2 percent target. The Fed also reaffirmed its plans to continue raising rates gradually, suggesting a rate hike at its next meeting in December is likely. Interest Rate in the United States averaged 5.70 percent from 1971 until 2018, reaching an all time high of 20 percent in March of 1980 and a record low of 0.25 percent in December of 2008.

United States Fed Funds Rate
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Fed Holds Rates as Expected, Signals December Hike


The Federal Reserve kept the target range for the federal funds rate at 2 percent to 2.25 percent during its November 2018 meeting, saying that the labor market has continued to strengthen and that economic activity has been rising at a strong rate while inflation remains near its 2 percent target. The Fed also reaffirmed its plans to continue raising rates gradually, suggesting a rate hike at its next meeting in December is likely.

FOMC Statement:

Information received since the Federal Open Market Committee met in September indicates that the labor market has continued to strengthen and that economic activity has been rising at a strong rate. Job gains have been strong, on average, in recent months, and the unemployment rate has declined. Household spending has continued to grow strongly, while growth of business fixed investment has moderated from its rapid pace earlier in the year. On a 12-month basis, both overall inflation and inflation for items other than food and energy remain near 2 percent. Indicators of longer-term inflation expectations are little changed, on balance.

Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee expects that further gradual increases in the target range for the federal funds rate will be consistent with sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee's symmetric 2 percent objective over the medium term. Risks to the economic outlook appear roughly balanced.

In view of realized and expected labor market conditions and inflation, the Committee decided to maintain the target range for the federal funds rate at 2 to 2-1/4 percent.

In determining the timing and size of future adjustments to the target range for the federal funds rate, the Committee will assess realized and expected economic conditions relative to its maximum employment objective and its symmetric 2 percent inflation objective. This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial and international developments.


Federal Reserve | Joana Ferreira | joana.ferreira@tradingeconomics.com
11/8/2018 7:27:30 PM



Calendar GMT Actual Previous Consensus TEForecast
2018-08-01 06:00 PM Fed Interest Rate Decision 2% 2% 2% 2%
2018-09-26 06:00 PM Fed Interest Rate Decision 2.25% 2% 2.25% 2.25%
2018-11-08 07:00 PM Fed Interest Rate Decision 2.25% 2.25% 2.25% 2.25%
2018-11-19 03:45 PM Fed Williams Speech
2018-11-29 07:00 PM FOMC Minutes
2018-12-19 07:00 PM Fed Interest Rate Decision 2.25% 2.5%


United States Money Last Previous Highest Lowest Unit
Interest Rate 2.25 2.25 20.00 0.25 percent [+]
Interbank Rate 2.64 2.63 10.63 0.22 percent [+]
Money Supply M0 3520960.00 3559894.00 4075024.00 48362.00 USD Million [+]
Money Supply M1 3731.10 3702.80 3731.10 138.90 USD Billion [+]
Money Supply M2 14253.70 14217.00 14253.70 286.60 USD Billion [+]
Foreign Exchange Reserves 123729.00 124529.00 153075.00 12128.00 USD Million [+]
Central Bank Balance Sheet 4102109.00 4121289.00 4473864.00 672444.00 USD Million [+]
Banks Balance Sheet 16821077.00 16821077.00 16853914.00 697581.70 USD Million [+]
Loans to Private Sector 2236.67 2219.67 2236.67 13.65 USD Billion [+]
Foreign Bond Investment -11500.00 18938.00 118012.00 -74329.00 USD Million [+]
Private Debt to GDP 202.80 202.00 213.50 155.70 percent [+]


United States Fed Funds Rate

In the United States, the authority to set interest rates is divided between the Board of Governors of the Federal Reserve (Board) and the Federal Open Market Committee (FOMC). The Board decides on changes in discount rates after recommendations submitted by one or more of the regional Federal Reserve Banks. The FOMC decides on open market operations, including the desired levels of central bank money or the desired federal funds market rate. This page provides the latest reported value for - United States Fed Funds Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Fed Funds Rate - actual data, historical chart and calendar of releases - was last updated on November of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
2.25 2.25 20.00 0.25 1971 - 2018 percent Daily




Country Last
Argentina 63.29 Nov/18
Turkey 24.00 Oct/18
Mexico 8.00 Nov/18
Russia 7.50 Oct/18
Brazil 6.50 Oct/18
India 6.50 Oct/18
South Africa 6.50 Oct/18
Indonesia 6.00 Nov/18
China 4.35 Oct/18
Saudi Arabia 2.75 Oct/18
United States 2.25 Nov/18
Canada 1.75 Oct/18
Australia 1.50 Nov/18
South Korea 1.50 Oct/18
Singapore 1.45 Oct/18
United Kingdom 0.75 Nov/18
Euro Area 0.00 Oct/18
France 0.00 Oct/18
Germany 0.00 Oct/18
Italy 0.00 Oct/18
Netherlands 0.00 Oct/18
Spain 0.00 Oct/18
Japan -0.10 Oct/18
Switzerland -0.75 Oct/18


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