The Federal Reserve policymakers have agreed that the tapering emergency pandemic support should start either mid-November or mid-December, the minutes from the latest FOMC meeting showed. Officials stressed that if the economic recovery remained broadly on track, a gradual tapering process that concluded around the middle of next year would likely be appropriate. Participants also considered an illustrative path of tapering, including monthly reductions in the pace of asset purchases, by $10 billion in the case of Treasury securities and $5 billion in the case of agency mortgage-backed securities (MBS). The Fed left the fed funds rate steady at 0-0.25% and bond-buying at the $120 billion monthly pace during the September 2021 meeting. source: Federal Reserve

Interest Rate in the United States averaged 5.49 percent from 1971 until 2021, 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 October 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. In the long-term, the United States Fed Funds Rate is projected to trend around 0.75 percent in 2022 and 1.00 percent in 2023, according to our econometric models.

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United States Fed Funds Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-04-28 06:00 PM Fed Interest Rate Decision 0.25% 0.25% 0.25% 0.25%
2021-06-16 06:00 PM Fed Interest Rate Decision 0.25% 0.25% 0.25% 0.25%
2021-07-28 06:00 PM Fed Interest Rate Decision 0.25% 0.25% 0.25% 0.25%
2021-09-22 06:00 PM Fed Interest Rate Decision 0.25% 0.25% 0.25% 0.25%
2021-11-03 06:00 PM Fed Interest Rate Decision 0.25%
2021-11-03 06:30 PM Fed Press Conference
2021-11-24 07:00 PM FOMC Minutes
2021-12-15 07:00 PM Fed Interest Rate Decision 0.25%


News Stream
Fed Likely to Start Tapering this Year
The Federal Reserve policymakers have agreed that the tapering emergency pandemic support should start either mid-November or mid-December, the minutes from the latest FOMC meeting showed. Officials stressed that if the economic recovery remained broadly on track, a gradual tapering process that concluded around the middle of next year would likely be appropriate. Participants also considered an illustrative path of tapering, including monthly reductions in the pace of asset purchases, by $10 billion in the case of Treasury securities and $5 billion in the case of agency mortgage-backed securities (MBS). The Fed left the fed funds rate steady at 0-0.25% and bond-buying at the $120 billion monthly pace during the September 2021 meeting.
2021-10-13
Inflation Could Stay High for Longer than Expected: Powell
Inflation is elevated and will likely remain so in coming months before moderating, Fed Chair Powell reiterated in prepared remarks for his Testimony on Coronavirus and Cares Act before the US Senate. Fed Chair added that as the economy continues to reopen and spending rebounds, an upward pressure on prices is expected, particularly due to supply bottlenecks in some sectors. These effects have been larger and longer lasting than anticipated, but they will abate, and as they do, inflation is expected to drop back toward the longer-run 2 percent goal. Fed Chair also noted the GDP rose at a robust pace in the first half of the year, and growth is widely expected to continue at a strong pace in the second half. Finally, Powell added that the Fed will do all it can to support the economy for as long as it takes to complete the recovery
2021-09-28
Fed Signals Tapering Will Start Soon
The Fed left the fed funds rate steady at 0-0.25% and bond-buying at the current $120 billion monthly pace during the September 2021 meeting, in line with forecasts. Still, the central bank said the economy has made progress toward employment and inflation goals and that if progress continues broadly as expected, a moderation in the pace of asset purchases may soon be warranted. The Fed also signalled interest rate increases may follow more quickly than expected, with 9 of 18 policymakers projecting borrowing costs will need to rise in 2022. The Fed sees the economy growing 5.9% in 2021, less than 7% in the June projection but to expand faster in both 2022 (3.8% vs 3.3% in the June projection) and 2023 (2.5% vs 2.4%). PCE inflation is seen higher in 2021 (4.2% vs 3.4%) and 2022 (2.2% vs 2.1%). The unemployment rate is also expected higher this year (4.8% vs 4.5%).
2021-09-22
Fed to Signal Tapering Start
The Federal Reserve is expected to keep the fed funds rate at 0-0.25% and bond-buying at the current $120 billion monthly pace during the September 2021 meeting but the central bank is likely to signal scaling back asset purchases later this year. Fed Chair Powell and other officials have been reiterating the Fed will start tapering this year but investors are waiting for more details, particularly after mixed economic data was recently released. The Fed will also release updated forecasts for growth and inflation and the so-called dot plot could eventually show pressure to hike interest rates next year.
2021-09-22

United States Last Unit Reference Previous Highest Lowest
Interest Rate 0.25 percent Sep/21 0.25 20.00 0.25
Money Supply M1 19677.70 USD Billion Aug/21 19402.00 19677.70 138.90
Money Supply M0 6328800.00 USD Million Aug/21 6130300.00 6328800.00 48400.00
Money Supply M2 20797.00 USD Billion Aug/21 20534.60 20797.00 286.60
Central Bank Balance Sheet 8480942.00 USD Million Oct/21 8464032.00 8489824.00 712809.00
Banks Balance Sheet 22274.10 USD Billion Oct/21 22122.00 22274.10 697.60
Foreign Exchange Reserves 42419.00 USD Million Aug/21 42619.00 149830.00 0.00
Loans to Private Sector 2430.19 USD Billion Sep/21 2431.71 3030.13 13.65
Repo Rate 0.04 Oct/21 0.05 6.94 -0.01


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.