The economy is a long way from Fed's employment and inflation goals, and it is likely to take some time for substantial further progress to be achieved, Fed Chair Powell said in prepared remarks for his Semiannual Monetary Policy Report to the Congress. Although the number of new Covid-19 cases and hospitalizations has been falling, and ongoing vaccinations offer hope for a return to more normal conditions later this year, the economic recovery remains uneven and far from complete, and the path ahead is highly uncertain, he added. The Fed remains committed to using its full range of tools to support the economy and to help ensure that the recovery from this difficult period will be as robust as possible. Powell added that the inflation rate is on track to moderately exceed 2% for some time but nothing was said regarding the recent rise in Treasury yields. source: Federal Reserve

Interest Rate in the United States averaged 5.55 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 March 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. 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 0.25 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 - 2021 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2020-09-16 06:00 PM Fed Interest Rate Decision 0.25% 0.25% 0.25% 0.25%
2020-11-05 07:00 PM Fed Interest Rate Decision 0.25% 0.25% 0.25% 0.25%
2020-12-16 07:00 PM Fed Interest Rate Decision 0.25% 0.25% 0.25% 0.25%
2021-01-27 07:00 PM Fed Interest Rate Decision 0.25% 0.25% 0.25% 0.25%
2021-03-03 11:05 PM Fed Kaplan Speech
2021-03-04 05:05 PM Fed Chair Powell Speech
2021-03-05 08:00 PM Fed Bostic Speech
2021-03-17 06:00 PM FOMC Economic Projections


News Stream
US Economic Recovery Remains Uneven
The economy is a long way from Fed's employment and inflation goals, and it is likely to take some time for substantial further progress to be achieved, Fed Chair Powell said in prepared remarks for his Semiannual Monetary Policy Report to the Congress. Although the number of new Covid-19 cases and hospitalizations has been falling, and ongoing vaccinations offer hope for a return to more normal conditions later this year, the economic recovery remains uneven and far from complete, and the path ahead is highly uncertain, he added. The Fed remains committed to using its full range of tools to support the economy and to help ensure that the recovery from this difficult period will be as robust as possible. Powell added that the inflation rate is on track to moderately exceed 2% for some time but nothing was said regarding the recent rise in Treasury yields.
2021-02-23
Fed Unlikely to Change Monetary Policy Soon
In their first meeting in 2021, FOMC members expected that it would be appropriate to maintain the target range for the federal funds rate at 0 to 1/4 percent and asset purchases at current level until labor market conditions had reached levels consistent with the Committee's assessments of maximum employment and inflation had risen to 2 percent and was on track to moderately exceed 2 percent for some time, minutes from last FOMC meeting on January 26-27, 2021 showed. Fed officials observed that the economy was far from achieving the Committee's goal of maximum employment and that even with a brisk pace of improvement in the labor market, achieving this goal would take some time. Inflation is anticipated to move up, along a trajectory consistent with achieving the Fed's objectives, supported by stronger economic activity, widespread vaccinations and the associated reduction in social distancing, and accommodative fiscal and monetary policy.
2021-02-17
Fed Reaffirms Ultra-Easy Monetary Policy
Federal Reserve Chairman Jerome Powell highlighted the importance of keeping monetary policy extremely easy for the foreseeable future to support the fragile US labour market. In prepared remarks to the Economic Club of New York on Wednesday, Mr. Powell warned that bring the economy to full employment will not be an easy task and it will require more than dovish policy to achieve it. Meanwhile, the Fed Chair shrugged off concerns that Biden’s massive fiscal stimulus plan might trigger unwelcome inflation. The Federal Reserve left the target range for its federal funds rate unchanged at 0-0.25% and kept its bond-buying program intact during its first 2021 meeting.
2021-02-10
Fed Keeps Rates on Hold
The Federal Reserve left the target range for its federal funds rate unchanged at 0-0.25% during its first 2021 meeting, in line with forecasts. The QE program was also maintained at $80 billion of Treasuries and $40 billion of Mortgage-Backed Securities. Policymakers noted the pace of the recovery in economic activity and employment has moderated in recent months and that the path of the economy will depend significantly on the course of the virus, including progress on vaccinations. The central bank reiterated it is committed to using its full range of tools to support the US economy in this challenging time.
2021-01-27

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.