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

The Federal Reserve left its target range for the fed funds rate at 0 to 0.25 percent on July 29th, 2015. “The labor market continued to improve, with solid job gains and declining unemployment,” and “The housing sector has shown additional improvement” the Federal Open Market Committee said in a statement. The Fed will tighten policy when it sees “some further improvement in the labor market,” and is “reasonably confident” inflation will move back to its 2 percent goal over the medium term. Interest Rate in the United States averaged 5.95 percent from 1971 until 2015, reaching an all time high of 20 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.

      Forecast
United States Fed Funds Rate
Please Paste this Code in your Website

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 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. Content for - United States Fed Funds Rate - was last refreshed on Friday, July 31, 2015.

Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-07-16 03:00 PM
2015-07-17 03:00 PM
2015-07-29 07:00 PM 0.25% 0.25% 0.25% 0.25%
2015-08-20 07:00 PM 0.25%
2015-09-17 07:00 PM 0.25% 0.25%
2015-10-28 06:00 PM 0.25%


Fed Remains On Course To Lift Rates in 2015


Rates will be raised when further improvements in the labor market occur, the Federal Reserve said during the meeting held on July 29th. Highlighting that is confident inflation will move back to its 2 percent objective over the medium term.

Extracts from the FOMC Statement:

Information received since the Federal Open Market Committee met in June indicates that economic activity has been expanding moderately in recent months. Growth in household spending has been moderate and the housing sector has shown additional improvement; however, business fixed investment and net exports stayed soft. The labor market continued to improve, with solid job gains and declining unemployment. On balance, a range of labor market indicators suggests that underutilization of labor resources has diminished since early this year. 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. The Committee expects 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 earlier 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 some further improvement in the labor market and is reasonably confident that inflation will move back to its 2 percent objective over the medium term.

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 | Joana Taborda | joana.taborda@tradingeconomics.com
7/29/2015 11:08:22 PM


Recent Releases

Yellen Says US Outlook Remains Favorable
Fed Chair Janet Yellen said the outlook for the US economy is favorable, signaling once again the Fed may start raising rates this year. However, Yellen showed concerns over the Greek crisis and the Chinese slowdown which pose risks to the US outlook, prepared statement for the Congressional Testimony showed.
Published on 2015-07-15

Fed Likely to Raise Rates this Year
The Federal Reserve Chair Janet Yellen said she expects the Fed to raise interest rates at some point later this year but stressed the labour market hasn’t fully recovered yet while inflation remains low.
Published on 2015-07-10

Fed Shows Concerns over Greece and China
Fed officials needed more evidence from the strengthening of the US economy before raising rates, while noticing risks arising from the Greek crisis and the Chinese slowdown, minutes of the meeting held last month showed.
Published on 2015-07-08

Fed Will Hike Rates by the End of 2015
The Federal Reserve left its target range for the fed funds rate at 0 to 0.25 percent, as expected, but the lawmakers indicated that U.S. economy is growing strong enough to support an interest rate increase by the end of the year.
Published on 2015-06-17


United States Money Last Previous Highest Lowest Unit
Interest Rate 0.25 0.25 20.00 0.25 percent [+]
Money Supply M0 3919529.00 3949307.00 4075024.00 48362.00 USD Million [+]
Money Supply M1 3007.90 2986.80 3007.90 138.90 USD Billion [+]
Money Supply M2 11982.40 11937.10 11982.40 286.60 USD Billion [+]
Central Bank Balance Sheet 4461067.00 4449067.00 4473864.00 672444.00 USD Million [+]
Foreign Exchange Reserves 119535.00 121290.00 153075.00 12128.00 USD Million [+]
Loans to Private Sector 1888.72 1870.68 1888.72 13.64 USD Billion [+]
Banks Balance Sheet 15393800.00 15321800.00 15408206.00 697581.70 USD Million [+]
Foreign Bond Investment 53358.00 6441.00 118012.00 -55007.00 USD Million [+]


Interest Rate Reference Previous Highest Lowest Unit
Australia 2.00 Jul/15 2.00 17.50 2.00 percent [+]
Brazil 14.25 Jul/15 13.75 45.00 7.25 percent [+]
Canada 0.50 Jul/15 0.75 16.00 0.25 percent [+]
China 4.85 Jun/15 5.10 10.98 4.85 percent [+]
Euro Area 0.05 Jul/15 0.05 4.75 0.05 percent [+]
India 7.25 Jun/15 7.50 14.50 4.25 percent [+]
Indonesia 7.50 Jul/15 7.50 12.75 5.75 percent [+]
Japan 0.00 Jul/15 0.00 9.00 0.00 percent [+]
Mexico 3.00 Jul/15 3.00 9.25 3.00 percent [+]
Russia 11.50 Jun/15 12.50 17.00 5.00 percent [+]
South Korea 1.50 Jul/15 1.50 5.25 1.50 percent [+]
Switzerland -0.75 Jun/15 -0.75 3.50 -0.75 percent [+]
Turkey 7.50 Jul/15 7.50 500.00 4.50 percent [+]
United Kingdom 0.50 Jul/15 0.50 17.00 0.50 percent [+]
United States 0.25 Jul/15 0.25 20.00 0.25 percent [+]