The Fed left the target range for its federal funds rate unchanged at 0-0.25% and said it will continue to purchase bonds at a rate of $120 billion a month despite acknowledging a rise in inflation and the improvement in the economy. Policymakers noted that indicators of economic activity and employment have strengthened amid progress on vaccinations and strong policy support but stressed the pandemic continues to weigh on the economy, and risks to the outlook remain. source: Federal Reserve

Interest Rate in the United States averaged 5.52 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 May 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. Looking forward, we estimate Interest Rate in the United States to stand at 0.25 in 12 months time. In the long-term, the United States Fed Funds Rate is projected to trend around 0.25 percent in 2022, 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
2020-12-16 07:00 PM Fed Interest Rate Decision 0.25% 0.25% 0.25% 0.25%
2021-01-27 07:00 PM Fed Interest Rate Decision 0.25% 0.25% 0.25% 0.25%
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%
2021-05-10 06:00 PM Fed Evans Speech
2021-05-11 02:30 PM Fed Williams Speech
2021-05-11 04:00 PM Fed Brainard Speech
2021-05-11 05:00 PM Fed Daly Speech


News Stream
Fed Leaves Monetary Policy Unchanged
The Fed left the target range for its federal funds rate unchanged at 0-0.25% and said it will continue to purchase bonds at a rate of $120 billion a month despite acknowledging a rise in inflation and the improvement in the economy. Policymakers noted that indicators of economic activity and employment have strengthened amid progress on vaccinations and strong policy support but stressed the pandemic continues to weigh on the economy, and risks to the outlook remain.
2021-04-28
Fed Unlikely to Hint on Tapering
The Federal Reserve is expected to keep the fed funds rate at 0-0.25% and bond-buying at a $120 billion monthly pace during this week's meeting. The central bank already pledged to reduce bond purchases only when it sees "substantial further progress" in the economic recovery and inflation averaging above its target of 2 percent. And in fact, there is more evidence that the economy gained footing since March. Still, Fed Chair Powell is unlikely to provide any indication about future tapering as the jobless rate is elevated at 6% and the core PCE index which is the favored Fed measure stands at 1.4%. Investors will also keep an eye on any development in IOER rate on excess reserves and overnight reverse repurchase agreements as Repo and Treasury bill rates have been around zero.
2021-04-28
Fed Unlikely to Change Monetary Policy Anytime Soon
Fed officials commented on the notable rise in Treasury yields and generally viewed it as reflecting the improved economic outlook, some firming in inflation expectations, and expectations for increased Treasury debt issuance, minutes from the last FOMC meeting showed. Also, the outlook for inflation is seen broadly balanced while supply disruptions and strong demand could push it up more than anticipated. The Fed also noted that asset purchases would continue at least at the current pace until substantial further progress toward maximum-employment and price-stability goals would be realized and highlighted the importance of clearly communicating its assessment of progress toward its goals well in advance of a change in the pace of asset purchases. The Fed left the target range for its federal funds rate unchanged at 0-0.25% during its March meeting, and signalled a strong likelihood that there may be no rate hikes through 2023.
2021-04-07
Fed to Keep Supporting the US Economy
Fed Chair Powell reiterated the Fed is committed to using the full range of tools to support the economy and to help assure that the recovery will be as robust as possible, prepared remarks to his testimony on the CARES Act before Congress showed. The recovery has progressed more quickly than generally expected and looks to be strengthening in part due to the unprecedented fiscal and monetary policy actions. Meanwhile, Treasury Secretary Yellen who will also testify noted that while there are signs of recovery, the country is still down nearly 10 million jobs from its pre-pandemic peak.
2021-03-23

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.