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.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Please Paste this Code in your Website
width
height
United States Fed Funds Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-06-15 06:00 PM Fed Interest Rate Decision 1.75% 1% 1.5% 1.75%
2022-06-15 06:00 PM Interest Rate Projection - Longer 2.5% 2.4%
2022-06-15 06:00 PM Interest Rate Projection - 2nd Yr 3.4% 2.8%
2022-07-06 01:00 PM Fed Williams Speech
2022-07-06 06:00 PM FOMC Minutes
2022-07-07 05:00 PM Fed Bullard Speech


Related Last Previous Unit Reference
Interest Rate 1.75 1.00 percent Jun 2022
Inflation Rate 8.60 8.30 percent May 2022
Unemployment Rate 3.60 3.60 percent May 2022
Money Supply M1 20632.90 20620.50 USD Billion May 2022
Money Supply M0 5591600.00 5885200.00 USD Million May 2022
Money Supply M2 21754.20 21728.00 USD Billion May 2022
Central Bank Balance Sheet 8934346.00 8932420.00 USD Million Jun 2022
Banks Balance Sheet 22653.50 22720.00 USD Billion Jun 2022
Foreign Exchange Reserves 37610.00 37054.00 USD Million May 2022
Loans to Private Sector 2599.42 2561.28 USD Billion May 2022
Repo Rate 1.55 1.55 Jul 2022

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
1.75 1.00 20.00 0.25 1971 - 2022 percent Daily

News Stream
Fed Committed to Control Inflation
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.
2022-06-29
Fed Chair Warns US Recession Possible
In testimony to the Senate banking committee on Wednesday, Fed Chair Powell acknowledged that steep interest rate hikes may cause a recession in the US, and avoiding it mostly depends on the factors beyond Fed control. “The other risk, though, is that we would not manage to restore price stability and that we would allow this high inflation to get entrenched in the economy,” Powell added. “We can’t fail on that task. We have to get back to 2% inflation.” In regards to recent rate hikes Chair also said "We anticipate that ongoing rate increases will be appropriate", "Inflation has obviously surprised to the upside over the past year, and further surprises could be in store. We, therefore, will need to be nimble in responding to incoming data and the evolving outlook." The Federal Reserve increased the funds rate by 75bps to 1.5%-1.75% during its June 2022 meeting, instead of 50bps initially expected, after the inflation rate unexpectedly accelerated last month to 41-year highs.
2022-06-22
Fed Delivers 75bps Rate Hike
The Federal Reserve increased the funds rate by 75bps to 1.5%-1.75% during its June 2022 meeting, instead of 50bps initially expected, after the inflation rate unexpectedly accelerated last month to 41-year highs. It is the biggest rate increase since 1994, and Chair Powell signaled a similar move could come at the next meeting but he does not expect 75bps moves to be common. Policymakers see interest rates increasing to 3.4% this year, well above 1.9% expected in March. Meanwhile, the economy is seen expanding 1.7% this year, below 2.8% estimated in March and the growth outlook was also lowered to both 2023 (1.7% vs 2.2%) and 2024 (1.9% vs 2%). PCE inflation is seen higher at 5.2% in 2022 (vs 4.3% expected in March) while the outlook was revised lower for both 2023 (2.6% vs 2.7%) and 2024 (2.2% vs 2.3%). The jobless rate is seen higher for the 3-year period: 3.7% for 2022 (vs 3.5%), 3.9% in 2023 (3.5%) and 4.1% in 2024 (vs 3.6%).
2022-06-15