“Price stability is the bedrock of a healthy economy and provides the public with immeasurable benefits over time. But restoring price stability when inflation is high can require measures that are not popular in the short term as we raise interest rates to slow the economy,” the chairman said in prepared remarks for the panel discussion in Stockholm. Powell's comments focused on central banks' independence and were short of details on the coming interest-rate decisions. The Federal Reserve raised the fed funds rate by 50bps to 4.25%-4.5% during its last monetary policy meeting of 2022, pushing borrowing costs to the highest level since 2007, and in line with market expectations. Fed Officials also have signaled their intention to lift the rate above 5% in 2023 and keep it there throughout the year. source: Federal Reserve

Interest Rate in the United States averaged 5.42 percent from 1971 until 2022, reaching an all time high of 20.00 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 January of 2023.

Interest Rate in the United States is expected to be 5.00 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 4.25 percent in 2024 and 3.25 percent in 2025, according to our econometric models.

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United States Fed Funds Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-12-14 07:00 PM Interest Rate Projection - Current 4.4% 4.4%
2022-12-14 07:00 PM Interest Rate Projection - 1st Yr 5.1% 4.6%
2022-12-14 07:00 PM Interest Rate Projection - 2nd Yr 4.1% 3.9%
2023-02-01 07:00 PM Fed Interest Rate Decision 4.5% 4.625% 4.75%
2023-02-22 07:00 PM FOMC Minutes
2023-03-22 06:00 PM Fed Interest Rate Decision 5.0%


Related Last Previous Unit Reference
Inflation Rate 6.50 7.10 percent Dec 2022
Unemployment Rate 3.50 3.60 percent Dec 2022
Interest Rate 4.50 4.00 percent Dec 2022
Money Supply M1 19685.80 19933.20 USD Billion Dec 2022
Money Supply M0 5405400.00 5418700.00 USD Million Dec 2022
Money Supply M2 21207.40 21351.60 USD Billion Dec 2022
Central Bank Balance Sheet 8489039.00 8508587.00 USD Million Jan 2023
Banks Balance Sheet 23012.30 22953.90 USD Billion Jan 2023
Foreign Exchange Reserves 37209.00 35620.00 USD Million Dec 2022
Loans to Private Sector 2828.72 2814.83 USD Billion Dec 2022
Repo Rate 4.33 4.33 Jan 2023

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.
Actual Previous Highest Lowest Dates Unit Frequency
4.50 4.00 20.00 0.25 1971 - 2022 percent Daily

News Stream
Powell Says Unpopular Decisions Are Necessairy to Bring Down Prices
“Price stability is the bedrock of a healthy economy and provides the public with immeasurable benefits over time. But restoring price stability when inflation is high can require measures that are not popular in the short term as we raise interest rates to slow the economy,” the chairman said in prepared remarks for the panel discussion in Stockholm. Powell's comments focused on central banks' independence and were short of details on the coming interest-rate decisions. The Federal Reserve raised the fed funds rate by 50bps to 4.25%-4.5% during its last monetary policy meeting of 2022, pushing borrowing costs to the highest level since 2007, and in line with market expectations. Fed Officials also have signaled their intention to lift the rate above 5% in 2023 and keep it there throughout the year.
2023-01-10
Fed to Continue to Raise Interest Rates: FOMC Minutes
Fed policymakers continued to anticipate that ongoing increases in the federal funds rate would be appropriate and that a restrictive policy stance would need to be maintained until the incoming data provided confidence that inflation was on a sustained downward path to 2%, which was likely to take some time, minutes from the December meeting showed. Also, several participants noted that historical experience cautioned against prematurely loosening monetary policy, given the persistent and unacceptably high level of inflation. At the same time, no participants anticipated that it would be appropriate to begin reducing the federal funds rate target in 2023. The Federal Reserve raised the fed funds rate by 50bps to 4.25%-4.5% during its last monetary policy meeting of 2022, pushing borrowing costs to the highest level since 2007, and in line with market expectations. It was a seventh consecutive rate hike, following four straight three-quarter point increases.
2023-01-04
Fed Delivers Smaller 50bps Rate Hike
The Federal Reserve raised the fed funds rate by 50bps to 4.25%-4.5% during its last monetary policy meeting of 2022, pushing borrowing costs to the highest level since 2007, and in line with market expectations. It was a seventh consecutive rate hike, following four straight three-quarter point increases. Policymakers reinforced that ongoing hikes in the target range will be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2%. The Fed now expects interest rates to reach 5.1% next year, 4.1% in 2024, and 3.1% in 2025, a higher level than previously indicated. Meanwhile, GDP growth projections were revised higher for this year (0.5% vs 0.2%) but lowered for 2023 (0.5% vs 1.2%) and 2024 (1.6% vs 1.7%). Inflation forecasts were revised higher for 2022 (5.6% vs 5.4%), 2023 (3.1% vs 2.8%) and 2024 (2.5% vs 2.3%).
2022-12-14