Federal Reserve officials agreed that the current interest rate stance is likely to remain unchanged for a period of time, despite raising concerns that low interest rates could exacerbate imbalances in the financial sector, minutes of the December policy meeting showed. Policymakers also pledged to discuss changes to the way the central bank manages liquidity in financial markets at future meetings, including the potential role of a standing repo facility, the setting of administered rates, and the composition of the Fed's holdings of Treasury securities over the longer run. The Federal Reserve left the target range for its federal funds rate unchanged at 1.5-1.75 percent on December 11th 2019 signaling no plans to change rates in 2020. The decision came in line with market expectations. Interest Rate in the United States averaged 5.63 percent from 1971 until 2019, reaching an all time high of 20 percent in March of 1980 and a record low of 0.25 percent in December of 2008. source: Federal Reserve

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. Looking forward, we estimate Interest Rate in the United States to stand at 1.75 in 12 months time. In the long-term, the United States Fed Funds Rate is projected to trend around 2.00 percent in 2020, according to our econometric models.

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United States Fed Funds Rate

Actual Previous Highest Lowest Dates Unit Frequency
1.75 1.75 20.00 0.25 1971 - 2019 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2019-07-31 06:00 PM 2.25% 2.5% 2.25% 2.25%
2019-09-18 06:00 PM 2% 2.25% 2% 2%
2019-10-30 06:00 PM 1.75% 2% 1.75% 1.75%
2019-12-11 07:00 PM 1.75% 1.75% 1.75% 1.75%
2020-01-29 07:00 PM 1.75% 1.75%


News Stream
2019-12-11
Fed Signals No Plans to Cut in 2020
The Federal Reserve left the target range for its federal funds rate unchanged at 1.5-1.75 percent on December 11th 2019, following a 25bps cut in the October meeting. The decision came in line with market expectations. Policymakers consider the current stance of monetary policy appropriate to support sustained growth, strong labor market conditions, and inflation near the 2% target. The central bank kept its growth forecasts unchanged for this year at 2.2 percent; 2 percent for 2020; 1.9 percent for 2021; and 1.8 percent for 2022. Inflation is seen at 1.5 percent in 2019; 1.9 percent in 2020; 2 percent in 2021; and 2 percent in 2022; all unchanged from the September projection. Regarding the fed funds rate, most participants expect no changes in 2020 although a hike is still seen in 2021. In the September projection, more participants expected a hike in 2020.

2019-12-11
Fed Set to Keep Rates Unchanged
The Federal Reserve is expected to leave the target range for its federal funds rate unchanged at 1.5-1.75 percent today at 2:00 PM EST time, following a 25bps cut in the October meeting. Investors will also check the latest FOMC economic projections through 2022 and the Fed Chair Jerome Powell's press conference at 2:30 PM EST time for further clues on the economic outlook. During his testimony before the House Budget Committee last month, Fed Chair said that there’s nothing that’s really booming now that would want to bust and that the national debt and deficit do not pose any immediate threats for a “day of reckoning”, suggesting no further rate cuts should be expected in the near future.

2019-11-20
Fed Unlikely to Cut Rates Further
The Fed considers that the current fed funds rate of 1.5-1.75% will remain appropriate, as long as incoming information about the economy did not result in a reassessment of the economic outlook, minutes from the last FOMC meeting showed, suggesting no further rate cuts should be expected in the near future.

2019-11-14
Powell Sees GDP Expansion on a Sustainable Path
If you look at today’s economy, there’s nothing that’s really booming now that would want to bust, Fed Chair Powell said during the second day of testimony before House Budget Committee, suggesting that the country’s economic expansion is sustainable. Fed Chair also said that the national debt and deficit do not pose any immediate threats for a “day of reckoning.”

2019-11-13
Fed Likely to Keep Rates Steady
The Fed sees the current stance of monetary policy as likely to remain appropriate as long as incoming information about the economy remains broadly consistent with the outlook of moderate economic growth, a strong labor market, and inflation near the 2 percent objective, Fed Chair said in prepared remarks to a US Congress committee, suggesting the central bank will leave the fed funds rate on hold for some time. Fed Chair also showed concerns about the current fiscal policy and said that the federal budget is on an unsustainable path, with high and rising debt.

2019-10-30
Fed Cuts Rates for 3rd Time this Year
The Federal Reserve slashed the target range for the federal funds rate to 1.5-1.75 percent during its October meeting, the third rate cut so far this year, amid muted inflation pressures and concerns about the economic outlook. But at the same time, the central bank signaled pause in easing cycle as the previous reference that it “will act as appropriate” to sustain the economic expansion was removed from the policy statement The decision was not unanimous, with two policymakers voting against lowering rates.


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.

United States Money Last Previous Highest Lowest Unit
Interest Rate 1.75 1.75 20.00 0.25 percent [+]
Money Supply M0 3426515.00 3315603.00 4075039.00 48362.00 USD Million [+]
Money Supply M1 3963.90 3934.50 3963.90 138.90 USD Billion [+]
Interbank Rate 1.84 1.84 10.63 0.22 percent [+]
Money Supply M2 15324.80 15197.30 15324.80 286.60 USD Billion [+]
Central Bank Balance Sheet 4121396.00 4120362.00 4473864.00 672444.00 USD Million [+]
Banks Balance Sheet 17642592.00 17542754.00 17642592.00 697581.70 USD Million [+]
Foreign Exchange Reserves 127938.00 128812.00 153075.00 12128.00 USD Million [+]
Loans to Private Sector 2349.80 2347.33 2364.08 13.65 USD Billion [+]
Foreign Bond Investment -41528.00 -16758.00 118012.00 -77415.00 USD Million [+]
Repo Rate 1.59 1.63 6.94 -0.01 [+]
Private Debt to GDP 196.70 201.80 212.90 156.20 percent [+]