During a Senate Banking Committee hearing in Washington on Tuesday, Federal Reserve Chair Powell admitted that it is appropriate to consider normalizing ultra-accommodative monetary policy at the upcoming meeting, given that the economy is very strong and inflationary pressures are higher. The Chair also said that it’s time to stop using the word “transitory” to describe inflation and that the recent emergence of the omicron variant poses “downside risks to employment and economic activity and increased uncertainty for inflation". The Fed decided on November 3rd to begin reducing the monthly pace of its net asset purchases by $10 billion for Treasury securities and $5 billion for agency mortgage-backed securities completing the process in mid-2022. The next policy meeting is set for December 14-15th. source: Federal Reserve

Interest Rate in the United States averaged 5.48 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 November 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 0.75 percent in 2022 and 1.00 percent in 2023, according to our econometric models.

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United States Fed Funds Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-07-28 06:00 PM Fed Interest Rate Decision 0.25% 0.25% 0.25% 0.25%
2021-09-22 06:00 PM Fed Interest Rate Decision 0.25% 0.25% 0.25% 0.25%
2021-11-03 06:00 PM Fed Interest Rate Decision 0.25% 0.25% 0.25% 0.25%
2021-12-01 07:00 PM Fed Beige Book
2021-12-02 04:00 PM Fed Quarles Speech
2021-12-02 04:30 PM Fed Barkins Speech


Related Last Previous Unit Reference
Interest Rate 0.25 0.25 percent Nov/21
Inflation Rate 6.20 5.40 percent Oct/21
Unemployment Rate 4.60 4.80 percent Oct/21
Money Supply M1 20083.10 19862.20 USD Billion Oct/21
Money Supply M0 6331000.00 6388900.00 USD Million Oct/21
Money Supply M2 21187.10 20982.90 USD Billion Oct/21
Central Bank Balance Sheet 8681771.00 8674970.00 USD Million Nov/21
Foreign Exchange Reserves 41276.00 41710.00 USD Million Oct/21
Banks Balance Sheet 22397.10 22312.10 USD Billion Oct/21
Loans to Private Sector 2425.83 2430.19 USD Billion Oct/21
Repo Rate 0.06 0.05 Nov/21

News Stream
Fed May Consider Speeding Up Taper Amid Hot Inflation
During a Senate Banking Committee hearing in Washington on Tuesday, Federal Reserve Chair Powell admitted that it is appropriate to consider normalizing ultra-accommodative monetary policy at the upcoming meeting, given that the economy is very strong and inflationary pressures are higher. The Chair also said that it’s time to stop using the word “transitory” to describe inflation and that the recent emergence of the omicron variant poses “downside risks to employment and economic activity and increased uncertainty for inflation". The Fed decided on November 3rd to begin reducing the monthly pace of its net asset purchases by $10 billion for Treasury securities and $5 billion for agency mortgage-backed securities completing the process in mid-2022. The next policy meeting is set for December 14-15th.
2021-11-30
Powell Voices Concerns About COVID Risks, Inflation
The recent rise in COVID-19 cases and the emergence of the Omicron variant pose downside risks to employment and economic activity, while also raises uncertainty about inflation, Federal Reserve Chair Jerome Powell said in prepared remarks to be delivered to the Senate Banking Committee on Tuesday. Powell's remarks suggested concerns about the new variant could affect the Fed's hawkish stance amid prospects of slowing progress in the labor market and intensifying supply-chain disruptions. Still, Powell reiterated that the inflation is expected to move down significantly over the next year as supply and demand imbalances abate, even as factors pushing inflation upward will linger well into next year.
2021-11-30
Fed Ready to Raise Rates If Inflation Remains High
Federal Reserve officials noted the central bank should be prepared to adjust the pace of asset purchases and raise interest rates sooner than anticipated if inflation continued to run high, while acknowledging that the path of the economy continued to depend on the course of the virus, minutes of the Fed's last policy meeting showed. Policymakers indicated that uncertainty about the inflation outlook had increased and that significant price pressures should last for longer than previously expected due to persistent supply bottlenecks. At the same time, members agreed that progress on vaccinations and an easing of constraints should continue to support the economic recovery and employment as well as a reduction in inflation, but risks to the growth outlook remained high.
2021-11-24

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.