The Fed kept the federal funds rate unchanged at the 3.5%–3.75% target range for a third consecutive meeting in April 2026, in line with expectations. The decision was not unanimous, with Governor Miran voting to lower interest rates by 25bps and three other members objecting the language in the statement that suggested the central bank would eventually resume cutting rates. The 8-4 vote marked the first time since October 1992 that four officials dissented against a FOMC decision. The central bank reiterated that it will carefully assess incoming data, the evolving outlook, and the balance of risks in determining the appropriate stance of monetary policy, and stands ready to adjust policy as needed if risks emerge that could hinder the achievement of its objectives. In addition, the Fed noted that developments in the Middle East are contributing to a high level of uncertainty about the economic outlook. Meanwhile, Powell said he will remain Fed governor after his Chair term ends. source: Federal Reserve

The benchmark interest rate in the United States was last recorded at 3.75 percent. Interest Rate in the United States averaged 5.39 percent from 1971 until 2026, reaching an all time high of 20.00 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 Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on April of 2026.

The benchmark interest rate in the United States was last recorded at 3.75 percent. Interest Rate in the United States is expected to be 3.75 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 Interest Rate is projected to trend around 3.25 percent in 2027, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-03-18 06:00 PM Interest Rate Projection - 1st Yr 3.1% 3.4%
2026-03-18 06:00 PM Fed Interest Rate Decision 3.75% 3.75% 3.75% 3.75%
2026-04-29 06:00 PM Fed Interest Rate Decision 3.75% 3.75% 3.75% 3.75%
2026-05-04 06:00 PM Loan Officer Survey
2026-06-03 06:00 PM Fed Beige Book
2026-06-17 06:00 PM Fed Interest Rate Decision 3.75% 3.75%


Related Last Previous Unit Reference
Banks Balance Sheet 25285.60 25325.50 USD Billion Apr 2026
Fed Balance Sheet 6707419.00 6705696.00 USD Million Apr 2026
Foreign Exchange Reserves 38992.00 39222.00 USD Million Feb 2026
Inflation Rate YoY 3.30 2.40 percent Mar 2026
Fed Interest Rate 3.75 3.75 percent Apr 2026
Loans to Private Sector 2827.90 2788.60 USD Billion Mar 2026
Money Supply M0 5458600.00 5388000.00 USD Million Mar 2026
Money Supply M1 19531.40 19396.90 USD Billion Mar 2026
Money Supply M2 22686.00 22627.30 USD Billion Mar 2026
Unemployment Rate 4.30 4.40 percent Mar 2026


United States Fed Funds Interest 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
3.75 3.75 20.00 0.25 1971 - 2026 percent Daily

News Stream
Fed Holds Rates Steady for Third Straight Meeting
The Fed kept the federal funds rate unchanged at the 3.5%–3.75% target range for a third consecutive meeting in April 2026, in line with expectations. The decision was not unanimous, with Governor Miran voting to lower interest rates by 25bps and three other members objecting the language in the statement that suggested the central bank would eventually resume cutting rates. The 8-4 vote marked the first time since October 1992 that four officials dissented against a FOMC decision. The central bank reiterated that it will carefully assess incoming data, the evolving outlook, and the balance of risks in determining the appropriate stance of monetary policy, and stands ready to adjust policy as needed if risks emerge that could hinder the achievement of its objectives. In addition, the Fed noted that developments in the Middle East are contributing to a high level of uncertainty about the economic outlook. Meanwhile, Powell said he will remain Fed governor after his Chair term ends.
2026-04-29
Fed to Hold Rates Steady
The Fed is widely expected to keep the federal funds rate unchanged at the 3.5%–3.75% target range for a third consecutive meeting in April 2026, as policymakers navigate an increasingly complex environment. The outlook for the rest of the year remains uncertain, with oil prices continuing to rise and inflation picking up due to the energy shock, even as labour market and broader economic indicators remain resilient. Investors will also closely watch policymakers’ assessment of the economic outlook and their guidance on the policy path ahead, particularly whether a rate hike could still be considered, although markets currently expect no changes to rates this year. This meeting could also mark the final one under Fed Chair Powell. The Justice Department said it would halt its criminal investigation into Powell, removing a key obstacle to the Senate’s confirmation of his nominated successor, Kevin Warsh, whose appointment is set for May 15.
2026-04-29
Fed Signals Openness to Rate Hikes
Some Fed officials favoured a two-sided framing of future rate decisions, highlighting that additional increases could be warranted if inflation persists above target levels, minutes from the last FOMC meeting in March showed. The vast majority of participants judged that upside risks to inflation and downside risks to employment were elevated, and the majority of participants noted that these risks had increased with developments in the Middle East. A prolonged conflict in the Middle East would likely lead to more persistent increases in energy prices and these higher input costs would be more likely to pass through to core inflation. The Fed left the federal funds rate steady at the 3.5%–3.75% target range for a 2nd consecutive meeting in March 2026, in line with expectations. However, policymakers still signaled one reduction in the fed funds rate this year and another in 2027, though the timing remains unclear.
2026-04-08