The coronavirus pandemic brought an extraordinary amount of uncertainty and considerable risk to the economy, FOMC minutes showed. Interest rates will be kept near zero until a recovery is firmly in place and the Federal Reserve is committed to using a full range of tools to support the US economy. Fed officials also noted that a second wave of the coronavirus outbreak with another round of strict restrictions could drag the US economy deeper into recession prompting a jump in unemployment and renewed downward pressure on inflation. The Fed left the target range for its federal funds' rate unchanged at 0-0.25 per cent on April 29th

Interest Rate in the United States averaged 5.60 percent from 1971 until 2020, 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 June of 2020. source: Federal Reserve

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 0.50 percent in 2021 and 0.75 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 - 2020 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2020-01-29 07:00 PM Fed Interest Rate Decision 1.75% 1.75% 1.75% 1.75%
2020-03-03 03:00 PM Fed Interest Rate Decision 1.25% 1.75%
2020-03-15 09:00 PM Fed Interest Rate Decision 0.25% 1.25%
2020-04-29 06:00 PM Fed Interest Rate Decision 0.25% 0.25% 0.25% 0.25%
2020-06-10 06:00 PM FOMC Economic Projections
2020-06-10 06:00 PM Fed Interest Rate Decision 0.25% 0.25%
2020-06-10 06:30 PM Fed Press Conference
2020-07-01 06:00 PM FOMC Minutes


News Stream
Fed Committed to Use Tools to Support the Economy
The Federal Reserve is strongly committed to use its tools to support the US economy as the present coronavirus crisis is an emergency of a nature we haven’t seen before, Fed Chair Powell reiterated during a conversation with Princeton economist Alan Blinder. Fed Chair also added that the central bank is ‘days away’ from making the first loans in the Main Street lending facility programme although it is very challenging because of the wide diversity of companies.
2020-05-29
Fed Minutes Paint Gloomy Outlook
The coronavirus pandemic brought an extraordinary amount of uncertainty and considerable risk to the economy, FOMC minutes showed. Interest rates will be kept near zero until a recovery is firmly in place and the Federal Reserve is committed to using a full range of tools to support the US economy. Fed officials also noted that a second wave of the coronavirus outbreak with another round of strict restrictions could drag the US economy deeper into recession prompting a jump in unemployment and renewed downward pressure on inflation.
2020-05-20
Powell Defends Trillion-Dollar Stimulus Efforts
Federal Reserve Chairman Jerome Powell, who testified along with Treasury Secretary Steven Mnuchin at a virtual hearing of the Senate Banking Committee, defended the government’s trillion-dollar stimulus efforts in response to the coronavirus pandemic and added that more fiscal aid may be needed. Powell also said the central bank is committed to using a full range of tools to support the US economy endure the coronavirus-driven slump. The Fed left the target range for its federal funds' rate unchanged at 0-0.25 per cent on April 29th.
2020-05-19
Fed Prepared to Use Full Range of Tools
The Federal Reserve is committed to using a full range of tools to support the economy in this challenging time, Fed Chair Powell said in prepared remarks of his testimony before the Senate Committee on Banking, Housing, and Urban Affairs. Powell added that the Fed has been entrusted with an important mission, and has taken unprecedented steps in very rapid fashion over the past few months. The tools used so far are for times of emergency and when economic and financial conditions improve, the central bank will put these tools back in the toolbox. Fed Chair also added that interest rates at expected to be left at 0% until the economy has weathered recent events and is on track to achieve maximum-employment and price-stability goals.
2020-05-19

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.