Federal Reserve Chair Jerome Powell reiterated Fed's commitment to do-whatever-it-takes to control high inflation and said the bigger risk is to fail to restore price stability. Powell also noted during the ECB's annual conference that the US economy is in a good shape and well positioned to withstand tighter monetary policy and that he hopes growth will remain positive, although there is a risk it will slow more than needed. He also confirmed the Fed is raising rates expeditiously and aims to move into restrictive territory fairly quickly. The Federal Reserve increased the funds rate by 75bps to 1.5%-1.75% during its June 2022 meeting, instead of 50bps initially expected. Meanwhile, several Fed officials have been advocating for rapid interest rate hikes to bring the inflation back to the 2% target. A 75bps or 50bps increase is expected in July. source: Federal Reserve
Interest Rate in the United States averaged 5.44 percent from 1971 until 2022, 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 July of 2022.
Interest Rate in the United States is expected to be 1.75 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 3.75 percent in 2023, according to our econometric models.