The coronavirus pandemic brought an extraordinary amount of uncertainty and considerable risk to the economy, FOMC minutes showed. Interest rates will be kept near zero until a recovery is firmly in place and the Federal Reserve is committed to using a full range of tools to support the US economy. Fed officials also noted that a second wave of the coronavirus outbreak with another round of strict restrictions could drag the US economy deeper into recession prompting a jump in unemployment and renewed downward pressure on inflation. The Fed left the target range for its federal funds' rate unchanged at 0-0.25 per cent on April 29th
Interest Rate in the United States averaged 5.60 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 June of 2020. source: Federal Reserve
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 0.50 percent in 2021 and 0.75 percent in 2022, according to our econometric models.