United States Fed Funds Rate 1971-2015 | Data | Chart | Calendar

The Federal Reserve kept the interest rate at 0.25 percent during the meeting held on April 29th. Interest Rate in the United States averaged 6.04 Percent from 1971 until 2014, 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. Interest Rate in the United States is reported by the Federal Reserve.

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United States Fed Funds Rate
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Actual Previous Highest Lowest Dates Unit Frequency
0.25 0.25 20.00 0.25 1971 - 2015 percent Daily
In the United States, the authority for interest rate decisions 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. This page provides - Fed Cuts QE to $65 Billion Pace - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - United States Fed Funds Rate - was last refreshed on Thursday, May 7, 2015.


Fed Pushes Back Expectations of Rate Hike


The US recovery has lost momentum during the winter months and the pace of hiring has moderated, the Federal Reserve said in a statement released on April 29th, reinforcing expectations that rates would be kept near zero at next meeting in June or longer.

Federal Reserve Press Release:

Information received since the Federal Open Market Committee met in March suggests that economic growth slowed during the winter months, in part reflecting transitory factors. The pace of job gains moderated, and the unemployment rate remained steady. A range of labor market indicators suggests that underutilization of labor resources was little changed. Growth in household spending declined; households' real incomes rose strongly, partly reflecting earlier declines in energy prices, and consumer sentiment remains high. Business fixed investment softened, the recovery in the housing sector remained slow, and exports declined. Inflation continued to run below the Committee's longer-run objective, partly reflecting earlier declines in energy prices and decreasing prices of non-energy imports. Market-based measures of inflation compensation remain low; survey-based measures of longer-term inflation expectations have remained stable.

Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. Although growth in output and employment slowed during the first quarter, the Committee continues to expect that, with appropriate policy accommodation, economic activity will expand at a moderate pace, with labor market indicators continuing to move toward levels the Committee judges consistent with its dual mandate. The Committee continues to see the risks to the outlook for economic activity and the labor market as nearly balanced. Inflation is anticipated to remain near its recent low level in the near term, but the Committee expects inflation to rise gradually toward 2 percent over the medium term as the labor market improves further and the transitory effects of declines in energy and import prices dissipate. The Committee continues to monitor inflation developments closely.

To support continued progress toward maximum employment and price stability, the Committee today reaffirmed its view that the current 0 to 1/4 percent target range for the federal funds rate remains appropriate. In determining how long to maintain this target range, the Committee will assess progress--both realized and expected--toward its objectives of maximum employment and 2 percent inflation. This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial and international developments. The Committee anticipates that it will be appropriate to raise the target range for the federal funds rate when it has seen further improvement in the labor market and is reasonably confident that inflation will move back to its 2 percent objective over the medium term.

The Committee is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasury securities at auction. This policy, by keeping the Committee's holdings of longer-term securities at sizable levels, should help maintain accommodative financial conditions.

When the Committee decides to begin to remove policy accommodation, it will take a balanced approach consistent with its longer-run goals of maximum employment and inflation of 2 percent. The Committee currently anticipates that, even after employment and inflation are near mandate-consistent levels, economic conditions may, for some time, warrant keeping the target federal funds rate below levels the Committee views as normal in the longer run.

Federal Reserve | anna@tradingeconomics.com
4/29/2015 7:14:59 PM


Recent Releases

Fed Signals Slower Pace of Rises
The Federal Reserve kept the interest rate at 0.25 percent during the meeting held on March 18th but dropped the pledge to be patient on rate rise thus opening the possibility of higher borrowing costs as early as June. Published on 2015-03-18

Fed Flexible with Time of Rates Hike
Federal Reserve is prepared to consider interest rate hikes on a meeting by meeting basis, if economic conditions continue to improve, Chair Janet Yellen said in a testimony before the Senate Banking Committee. Published on 2015-02-24


Calendar GMT Event Reference Actual Previous Consensus Forecast (i)
2015-05-06 02:10 PM
Fed's Yellen & IMF's Lagarde Speech 
2015-05-06 06:15 PM
Fed's George Speech 
2015-05-06 06:30 PM
Fed's Lockhart Speech 
2015-05-21 07:00 PM
FOMC Minutes 
0.25%
2015-06-17 07:00 PM
Fed Interest Rate Decision 
0.25%
2015-07-09 07:00 PM
FOMC Minutes 
0.25%


United States Money Last Previous Highest Lowest Unit
Interest Rate 0.25 0.25 20.00 0.25 percent [+]
Money Supply M0 4030569.00 3840359.00 4075024.00 48362.00 USD Million [+]
Money Supply M1 2987.70 2992.20 2992.20 138.90 USD Billion [+]
Money Supply M2 11845.60 11826.30 11845.60 286.60 USD Billion [+]
Central Bank Balance Sheet 4444217.00 4453211.00 4473864.00 672444.00 USD Million [+]
Foreign Exchange Reserves 119270.00 124717.00 153075.00 12128.00 USD Million [+]
Loans to Private Sector 8120.06 8028.69 8120.06 39.04 USD Billion [+]
Banks Balance Sheet 15256.89 15289.21 15368.96 697.58 USD Billion [+]
Foreign Bond Investment -6305.00 -55106.00 118012.00 -55106.00 USD Million [+]


Interest Rate Reference Previous Highest Lowest Unit
Australia 2.00 May/15 2.25 17.50 2.25 percent [+]
Brazil 13.25 Apr/15 12.75 45.00 7.25 percent [+]
Canada 0.75 Apr/15 0.75 16.00 0.25 percent [+]
China 5.35 Apr/15 5.35 10.98 5.31 percent [+]
Euro Area 0.05 Apr/15 0.05 4.75 0.05 percent [+]
France 0.05 Apr/15 0.05 4.75 0.05 percent [+]
Germany 0.05 Apr/15 0.05 4.75 0.05 percent [+]
India 7.50 Apr/15 7.50 14.50 4.25 percent [+]
Indonesia 7.50 Apr/15 7.50 12.75 5.75 percent [+]
Italy 0.05 Apr/15 0.05 4.75 0.05 percent [+]
Japan 0.00 Apr/15 0.00 9.00 0.00 percent [+]
Mexico 3.00 Apr/15 3.00 9.25 3.00 percent [+]
Netherlands 0.05 Apr/15 0.05 4.75 0.05 percent [+]
Russia 12.50 Apr/15 14.00 17.00 5.00 percent [+]
South Korea 1.75 Apr/15 1.75 5.25 1.75 percent [+]
Spain 0.05 Apr/15 0.05 4.75 0.05 percent [+]
Switzerland -0.75 Mar/15 -0.75 3.50 -0.75 percent [+]
Turkey 7.50 Apr/15 7.50 500.00 4.50 percent [+]
United Kingdom 0.50 Apr/15 0.50 17.00 0.50 percent [+]
United States 0.25 Apr/15 0.25 20.00 0.25 percent [+]