Fed officials commented on the notable rise in Treasury yields and generally viewed it as reflecting the improved economic outlook, some firming in inflation expectations, and expectations for increased Treasury debt issuance, minutes from the last FOMC meeting showed. Also, the outlook for inflation is seen broadly balanced while supply disruptions and strong demand could push it up more than anticipated. The Fed also noted that asset purchases would continue at least at the current pace until substantial further progress toward maximum-employment and price-stability goals would be realized and highlighted the importance of clearly communicating its assessment of progress toward its goals well in advance of a change in the pace of asset purchases. The Fed left the target range for its federal funds rate unchanged at 0-0.25% during its March meeting, and signalled a strong likelihood that there may be no rate hikes through 2023. source: Federal Reserve

Interest Rate in the United States averaged 5.53 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 April 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
2020-11-05 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%
2021-03-17 06:00 PM Fed Interest Rate Decision 0.25% 0.25% 0.25% 0.25%
2021-04-14 06:00 PM Fed Beige Book
2021-04-14 06:30 PM Fed Williams Speech
2021-04-14 07:45 PM Fed Clarida Speech
2021-04-14 08:00 PM Fed Bostic Speech


News Stream
Fed Unlikely to Change Monetary Policy Anytime Soon
Fed officials commented on the notable rise in Treasury yields and generally viewed it as reflecting the improved economic outlook, some firming in inflation expectations, and expectations for increased Treasury debt issuance, minutes from the last FOMC meeting showed. Also, the outlook for inflation is seen broadly balanced while supply disruptions and strong demand could push it up more than anticipated. The Fed also noted that asset purchases would continue at least at the current pace until substantial further progress toward maximum-employment and price-stability goals would be realized and highlighted the importance of clearly communicating its assessment of progress toward its goals well in advance of a change in the pace of asset purchases. The Fed left the target range for its federal funds rate unchanged at 0-0.25% during its March meeting, and signalled a strong likelihood that there may be no rate hikes through 2023.
2021-04-07
Fed to Keep Supporting the US Economy
Fed Chair Powell reiterated the Fed is committed to using the full range of tools to support the economy and to help assure that the recovery will be as robust as possible, prepared remarks to his testimony on the CARES Act before Congress showed. The recovery has progressed more quickly than generally expected and looks to be strengthening in part due to the unprecedented fiscal and monetary policy actions. Meanwhile, Treasury Secretary Yellen who will also testify noted that while there are signs of recovery, the country is still down nearly 10 million jobs from its pre-pandemic peak.
2021-03-23
Fed Sees Interest Rates Unchanged Until 2023
The Fed left the target range for its federal funds rate unchanged at 0-0.25% during its March meeting, and signaled a strong likelihood that there may be no rate hikes through 2023. Policymakers noted that indicators of economic activity and employment have turned up recently, although the sectors most adversely affected by the pandemic remained weak. The central bank revised up its GDP forecasts for 2021 and 2022 due to the approval of President Biden’s $1.9-trillion recovery package and the ongoing COVID-19 vaccination programme. The world's largest economy is seen growing by 6.5% this year (vs 4.2% projected in December) and by 3.3% in 2022 (vs 3.2%). The PCE price index is expected to rise by 2.4% in 2021 (vs 1.8%) and by 2.0% in 2022 (vs 1.9%). Regarding the labor market, unemployment rate is now seen at 4.5% this year (vs 5.0%) and at 3.9% in 2022 (vs 4.2%).
2021-03-17
Fed to Upgrade Economic Forecasts
As the Federal Reserve is expected to leave monetary policy unchanged when it concludes its two-day meeting today more attention will be given to a new set of quarterly economic projections. The macroeconomic scenario has improved compared to January as coronavirus infections slowed, vaccination rollout accelerated and the $1.9 trillion stimulus package has been signed into law, prompting a surge in inflation expectations and a bond sell-off. Investors will be looking for signs that inflation will overshoot the 2% target for a long period and will assess if the so-called 'dot plot' continues to point to record low rates until at least 2023, or in contrast, may point to an early tightening. The press conference will also be in the spotlight as Jerome Powell is expected to give more clarity on the bank's view and actions to tackle the recent surge in Treasury yields.
2021-03-17

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.