United States Fed Funds Rate  1971-2016 | Data | Chart | Calendar

The Federal Reserve left the target range for its federal funds rate unchanged at 0.25 percent to 0.5 percent for the third time during its April 2016 meeting. Policymakers said labor market conditions improved but economic activity appears to have slowed although concerns regarding risks from global economic and financial developments to the US economy eased. Interest Rate in the United States averaged 5.88 percent from 1971 until 2016, 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.

United States Fed Funds Rate
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Actual Previous Highest Lowest Dates Unit Frequency
0.50 0.50 20.00 0.25 1971 - 2016 percent Daily
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. 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 - actual data, historical chart and calendar of releases - was last updated on May of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-01-27 07:00 PM Fed Interest Rate Decision 0.5% 0.5% 0.5% 0.5%
2016-03-16 06:00 PM Fed Interest Rate Decision 0.5% 0.5% 0.5% 0.5%
2016-04-27 06:00 PM Fed Interest Rate Decision 0.5% 0.5% 0.5% 0.5%
2016-05-26 09:15 AM Fed Bullard Speech
2016-05-26 04:15 PM Fed Powell Speech
2016-05-27 05:15 PM Fed Yellen Speech

Fed Keeps Open Possibility of June Rate Hike


The Federal Reserve opened up the option of raising short-term interest rates at their next meeting based on how the incoming data and developments shaped their outlook for the labor market and inflation, minutes from April FOMC meeting showed. Policymakers agreed that the risks associated with global developments had diminished and that labor market conditions had improved further even as growth in economic activity had appeared to slow.

Extracts From the Minutes of the Federal Open Market Committee:

In their discussion of the economic situation and the outlook, meeting participants agreed that the information received over the intermeeting period indicated that labor market conditions improved further even as growth in economic activity appeared to have slowed. Growth in household spending had moderated, although households' real income had risen at a solid rate and consumer sentiment remained high. Since the beginning of the year, the housing sector had improved further, but business fixed investment and net exports had been soft. A range of indicators, including strong job gains, pointed to additional strengthening of the labor market. Inflation had continued to run below the Committee's 2 percent longer-run objective, partly reflecting earlier declines in energy prices and falling prices of non-energy imports. Market-based measures of inflation compensation remained low; survey-based measures of longer-run inflation expectations were little changed, on balance, in recent months. Domestic and global financial conditions eased over the intermeeting period, the incoming news on the foreign economic outlook was generally positive, and investor sentiment improved.

Participants generally agreed that the risks to the economic outlook posed by global economic and financial developments had receded over the intermeeting period. The public appeared to have interpreted Federal Reserve communications following the March FOMC meeting as indicating that achieving the Committee's economic objectives would likely require a somewhat more gradual pace of increases in the federal funds rate than anticipated earlier. The shift in policy expectations, along with incoming data showing that economic growth abroad picked up during the first quarter of the year, seemed to contribute to the improved tone in global financial markets. Several FOMC participants judged that the risks to the economic outlook were now roughly balanced. However, many others indicated that they continued to see downside risks to the outlook either because of concerns that the recent slowdown in domestic spending might persist or because of remaining concerns about the global economic and financial outlook. Some participants noted that global financial markets could be sensitive to the upcoming British referendum on membership in the European Union or to unanticipated developments associated with China's management of its exchange rate.

Fed | Joana Ferreira | joana.ferreira@tradingeconomics.com
5/18/2016 7:29:21 PM

United States Money Last Previous Highest Lowest Unit
Interest Rate 0.50 0.50 20.00 0.25 percent [+]
Interbank Rate 0.67 0.66 10.63 0.22 percent [+]
Money Supply M0 3872940.00 3898447.00 4075024.00 48362.00 USD Million [+]
Money Supply M1 3184.80 3145.40 3184.80 138.90 USD Billion [+]
Money Supply M2 12652.20 12567.20 12652.20 286.60 USD Billion [+]
Foreign Exchange Reserves 119727.00 117218.00 153075.00 12128.00 USD Million [+]
Central Bank Balance Sheet 4438170.00 4437060.00 4473860.00 672444.00 USD Million [+]
Banks Balance Sheet 15842300.00 15788400.00 15887600.00 697581.70 USD Million [+]
Loans to Private Sector 2047.49 2023.14 2047.49 13.65 USD Billion [+]
Foreign Bond Investment 23628.00 9905.00 118012.00 -55153.00 USD Million [+]




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Ethiopia 5.00 Apr/16
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Benin 3.50 Apr/16
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Togo 3.50 Apr/16
Barbados 3.26 Apr/16
Macedonia 3.25 Jan/16
Malaysia 3.25 May/16
Guatemala 3.00 Apr/16
Libya 3.00 Apr/16
Philippines 3.00 Jun/16
Belize 2.50 Apr/16
Croatia 2.50 Apr/16
Cameroon 2.45 Apr/16
Central African Republic 2.45 Apr/16
Chad 2.45 Apr/16
Equatorial Guinea 2.45 Apr/16
Gabon 2.45 Apr/16
Republic of the Congo 2.45 Apr/16
Cuba 2.25 Apr/16
Kuwait 2.25 Apr/16
Morocco 2.25 Apr/16
New Zealand 2.25 Apr/16
Congo 2.00 Apr/16
Saudi Arabia 2.00 Apr/16
Bolivia 1.90 Mar/16
Australia 1.75 May/16
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Poland 1.50 May/16
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Thailand 1.50 May/16
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Comoros 1.36 Mar/16
Albania 1.25 May/16
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Hungary 0.90 May/16
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Macau 0.75 Apr/16
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Fiji 0.50 Apr/16
Norway 0.50 May/16
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United States 0.50 Apr/16
Panama 0.44 Feb/16
Singapore 0.41 Apr/16
New Caledonia 0.30 Apr/16
Israel 0.10 May/16
Czech Republic 0.05 May/16
Austria 0.00 Apr/16
Belgium 0.00 Apr/16
Bulgaria 0.00 May/16
Cyprus 0.00 Apr/16
Estonia 0.00 Apr/16
Euro Area 0.00 Apr/16
Finland 0.00 Apr/16
France 0.00 Apr/16
Germany 0.00 Apr/16
Greece 0.00 Apr/16
Ireland 0.00 Apr/16
Italy 0.00 Apr/16
Latvia 0.00 Apr/16
Lithuania 0.00 Apr/16
Luxembourg 0.00 Apr/16
Malta 0.00 Apr/16
Netherlands 0.00 Apr/16
Portugal 0.00 Apr/16
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Slovenia 0.00 Apr/16
Spain 0.00 Apr/16
Japan -0.10 Apr/16
Sweden -0.50 Apr/16
Denmark -0.65 Apr/16
Switzerland -0.75 Apr/16