The Fed left the target range for its federal funds rate unchanged at 0-0.25% and bond-buying at the current $120 billion monthly pace during the July 2021 meeting. But the central bank offered some hints that asset purchases could start being reduced soon in spite of the threat to growth from delta variant of the coronavirus. Officials said the economy has made progress toward employment and inflation goals, and that the Committee will continue to assess progress in coming meetings. source: Federal Reserve

Interest Rate in the United States averaged 5.50 percent from 1971 until 2021, reaching an all time high of 20 percent in March of 1980 and a record low of 0.25 percent in December of 2008. 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 - data, historical chart, forecasts and calendar of releases - was last updated on August of 2021.

Interest Rate in the United States is expected to be 0.25 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Fed Funds Rate is projected to trend around 0.25 percent in 2022 and 0.75 percent in 2023, according to our econometric models.

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United States Fed Funds Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.25 0.25 20.00 0.25 1971 - 2021 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2021-03-17 06:00 PM Fed Interest Rate Decision 0.25% 0.25% 0.25% 0.25%
2021-04-28 06:00 PM Fed Interest Rate Decision 0.25% 0.25% 0.25% 0.25%
2021-06-16 06:00 PM Fed Interest Rate Decision 0.25% 0.25% 0.25% 0.25%
2021-07-28 06:00 PM Fed Interest Rate Decision 0.25% 0.25% 0.25% 0.25%
2021-08-03 06:00 PM Fed Clarida Speech
2021-08-04 02:00 PM Fed Clarida Speech
2021-08-05 02:00 PM Fed Waller Speech
2021-08-18 06:00 PM FOMC Minutes


News Stream
Fed Signals Tapering Could Start Soon
The Fed left the target range for its federal funds rate unchanged at 0-0.25% and bond-buying at the current $120 billion monthly pace during the July 2021 meeting. But the central bank offered some hints that asset purchases could start being reduced soon in spite of the threat to growth from delta variant of the coronavirus. Officials said the economy has made progress toward employment and inflation goals, and that the Committee will continue to assess progress in coming meetings.
2021-07-28
Fed to Sound More Dovish
The Federal Reserve is expected to keep the fed funds rate at 0-0.25% and bond-buying at the current $120 billion monthly pace during the July 2021 meeting. Officials probably have discussed eventual tapering of stimulus and the mechanics behind it but most investors believe any details will be revealed only at the Jackson Hole symposium next month. The statement will likely sound more dovish than in the previous meetings as the spread of the coronavirus delta variant poses renewed risks to the economic outlook and as Chair Powell reiterated several times the Fed's benchmark standard of "substantial further progress" toward full employment and price stability is still a ways off. In June, the Fed kept rates and QE steady but raised its expectations for inflation this year and brought forward the time frame on when it will next raise interest rates.
2021-07-28
Substantial Further Economic Progress is a Ways Off: Powell
The Fed's benchmark standard of "substantial further progress" toward full employment and price stability is still a ways off, although progress will continue, Fed Chair Powell said in prepared remarks of his Semiannual Monetary Policy Report to Congress. He also added that the Fed is ready to intervene if inflation spirals out of control pointing that price rises are notable substantially and will likely remain elevated in the coming months before moderating. Powell also reiterated it will be appropriate to maintain the current target range for the federal funds rate until labor market conditions have reached levels consistent with maximum employment and inflation is on track to moderately exceed 2 percent for some time.
2021-07-14
Fed Sees Shortages and Hiring Weighing
The Fed noted that progress on vaccinations has led to a reopening of the economy and strong economic growth, supported by accommodative monetary and fiscal policy while shortages of material inputs and difficulties in hiring have held down activity in a number of industries, the Monetary Policy Report which will be the subject of hearings in Congress in July showed. The central bank reinforced it will be appropriate to maintain the current target range for the federal funds rate until labour market conditions have reached levels consistent with maximum employment and inflation has risen to 2% and is on track to moderately exceed that rate for some time. On the QE programme, the Fed expects purchases to continue at least at the current pace until substantial further progress has been made toward its maximum-employment and price-stability goals.
2021-07-09

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.