Inflation risks have eased in recent weeks, but the US central bank remains committed to restoring inflation to its 2% target, Federal Reserve Chair Kevin Warsh said at the ECB’s annual Forum on Central Banking in Sintra, Portugal. Warsh stressed that delivering price stability remains the Fed's primary objective, while noting that the strategy to achieve it will continue to evolve. Warsh also underscored the Fed's independence in setting monetary policy, dismissing any suggestion that political pressure would influence its decisions. The Fed chief reiterated that the central bank will no longer provide traditional forward guidance on future interest-rate decisions, signaling a shift in its communication approach. He also declined to comment on the outlook for the upcoming policy meeting, saying decisions will be based on incoming data. Last month, the Fed held rates steady but signaled growing support among officials for additional hikes later this year as inflation remains elevated. source: Federal Reserve

The benchmark interest rate in the United States was last recorded at 3.75 percent. Interest Rate in the United States averaged 5.39 percent from 1971 until 2026, 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. 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 Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2026.

The benchmark interest rate in the United States was last recorded at 3.75 percent. Interest Rate in the United States is expected to be 3.75 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Fed Funds Interest Rate is projected to trend around 4.25 percent in 2027, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-06-17 06:00 PM Interest Rate Projection - Longer 3.1% 3.1%
2026-06-17 06:00 PM Interest Rate Projection - Current 3.8% 3.4%
2026-06-17 06:00 PM Fed Interest Rate Decision 3.75% 3.75% 3.75% 3.75%
2026-07-15 06:00 PM Fed Beige Book
2026-07-29 06:00 PM Fed Interest Rate Decision 3.75% 3.75%
2026-09-02 06:00 PM Fed Beige Book


Related Last Previous Unit Reference
Banks Balance Sheet 25551.50 25447.90 USD Billion Jun 2026
Fed Balance Sheet 6724564.00 6735645.00 USD Million Jul 2026
Foreign Exchange Reserves 38587.00 38838.00 USD Million May 2026
Inflation Rate YoY 4.20 3.80 percent May 2026
Fed Interest Rate 3.75 3.75 percent Jun 2026
Loans to Private Sector 2897.10 2874.00 USD Billion May 2026
Money Supply M0 5538600.00 5470400.00 USD Million May 2026
Money Supply M1 19750.90 19531.70 USD Billion May 2026
Money Supply M2 22804.50 22686.40 USD Billion Apr 2026
Unemployment Rate 4.20 4.30 percent Jun 2026


United States Fed Funds Interest 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.
Actual Previous Highest Lowest Dates Unit Frequency
3.75 3.75 20.00 0.25 1971 - 2026 percent Daily

News Stream
Warsh Sees Easing Inflation Risks, Sticks to 2% Target Goal
Inflation risks have eased in recent weeks, but the US central bank remains committed to restoring inflation to its 2% target, Federal Reserve Chair Kevin Warsh said at the ECB’s annual Forum on Central Banking in Sintra, Portugal. Warsh stressed that delivering price stability remains the Fed's primary objective, while noting that the strategy to achieve it will continue to evolve. Warsh also underscored the Fed's independence in setting monetary policy, dismissing any suggestion that political pressure would influence its decisions. The Fed chief reiterated that the central bank will no longer provide traditional forward guidance on future interest-rate decisions, signaling a shift in its communication approach. He also declined to comment on the outlook for the upcoming policy meeting, saying decisions will be based on incoming data. Last month, the Fed held rates steady but signaled growing support among officials for additional hikes later this year as inflation remains elevated.
2026-07-01
Fed Leaves Rates Steady
The Fed kept the federal funds rate unchanged at 3.50%-3.75% for a fourth consecutive meeting in June 2026, in line with expectations. This is the first meeting under new Fed Chair Kevin Warsh. New economic projections show that 9 officials see at least one rate hike this year, with 6 anticipating at least two. Another 9 expected no move or a cut. Only 18 officials out of 19 entered their projections for rates at the end of 2026, as the new Fed Chair did not submit his forecast. Meanwhile, GDP growth is seen lower in 2026 (2.2% vs 2.4% in March) but the forecast for 2027 was kept at 2.3%. PCE inflation was revised sharply higher to 3.6% from 2.7% for this year and for 2027, it was also raised to 3.3% from 2.7%. Policymakers noted that economic activity is expanding at a solid pace despite elevated uncertainty that owes, in part, to the conflict in the Middle East. Job gains have kept pace with the workforce while inflation remains elevated relative to the 2% goal.
2026-06-17
Fed to Keep Rates Steady at New Chair's First Meeting
The Federal Reserve is widely expected to keep the federal funds rate unchanged at 3.50%-3.75% for a fourth consecutive meeting in June 2026, as policymakers navigate persistent inflation and uncertainty over the pace at which price pressures will ease. This meeting will be the first under new Fed Chair Kevin Warsh, whose appointment was initially viewed as leaning toward interest rate cuts and policy easing; however, market expectations have since shifted toward a more hawkish stance. Although the US and Iran have agreed to a provisional peace deal, oil prices remain above pre-war levels, while recent labour market data has pointed to continued strength in employment. Investors will closely watch the Fed’s updated economic projections, including the “dot plot,” for signals on the future path of interest rates. However, many analysts expect that new Chair Warsh will not participate in it. Back in March, the Fed had previously projected one rate cut in 2026 and another one in 2027.
2026-06-17