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 fifth time during its July 2016 meeting. Policymakers said that the labor market strengthened and near-term risks to growth decreased, suggesting a rate hike is still possible this year although dependent on incoming economic data. Interest Rate in the United States averaged 5.86 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.

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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 July of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-04-27 06:00 PM Fed Interest Rate Decision 0.5% 0.5% 0.5% 0.5%
2016-06-15 06:00 PM Fed Interest Rate Decision 0.5% 0.5% 0.5% 0.5%
2016-07-27 06:00 PM Fed Interest Rate Decision 0.5% 0.5% 0.5% 0.5%
2016-08-02 10:15 AM Fed Kaplan Speech
2016-08-04 10:15 AM Fed Kaplan Speech
2016-08-17 06:00 PM FOMC Minutes

Fed Leaves Rates on Hold


The Federal Reserve left the target range for its federal funds rate unchanged at 0.25 percent to 0.5 percent for the fifth time during its July 2016 meeting. Policymakers said that the labor market strengthened and near-term risks to growth decreased, suggesting a rate hike is still possible this year although dependent on incoming economic data.

Excerpts from FOMC Statement:

Information received since the Federal Open Market Committee met in June indicates that the labor market strengthened and that economic activity has been expanding at a moderate rate. Job gains were strong in June following weak growth in May. On balance, payrolls and other labor market indicators point to some increase in labor utilization in recent months. Household spending has been growing strongly but business fixed investment has been soft. Inflation has continued to run below the Committee's 2 percent longer-run objective, partly reflecting earlier declines in energy prices and in prices of non-energy imports. Market-based measures of inflation compensation remain low; most survey-based measures of longer-term inflation expectations are little changed, on balance, in recent months.

Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee currently expects that, with gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace and labor market indicators will strengthen. Inflation is expected to remain low in the near term, in part because of earlier declines in energy prices, but to rise to 2 percent over the medium term as the transitory effects of past declines in energy and import prices dissipate and the labor market strengthens further. Near-term risks to the economic outlook have diminished. The Committee continues to closely monitor inflation indicators and global economic and financial developments.

Against this backdrop, the Committee decided to maintain the target range for the federal funds rate at 1/4 to 1/2 percent. The stance of monetary policy remains accommodative, thereby supporting further improvement in labor market conditions and a return to 2 percent inflation.

In determining the timing and size of future adjustments to the target range for the federal funds rate, the Committee will assess realized and expected economic conditions relative to 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. In light of the current shortfall of inflation from 2 percent, the Committee will carefully monitor actual and expected progress toward its inflation goal. The Committee expects that economic conditions will evolve in a manner that will warrant only gradual increases in the federal funds rate; the federal funds rate is likely to remain, for some time, below levels that are expected to prevail in the longer run. However, the actual path of the federal funds rate will depend on the economic outlook as informed by incoming data.

Federal Reserve | Joana Taborda | joana.taborda@tradingeconomics.com
7/27/2016 7:12:55 PM

United States Money Last Previous Highest Lowest Unit
Interest Rate 0.50 0.50 20.00 0.25 percent [+]
Interbank Rate 0.76 0.76 10.63 0.22 percent [+]
Money Supply M0 3825373.00 3836463.00 4075024.00 48362.00 USD Million [+]
Money Supply M1 3242.40 3237.00 3242.40 138.90 USD Billion [+]
Money Supply M2 12807.60 12733.00 12807.60 286.60 USD Billion [+]
Foreign Exchange Reserves 120202.00 119190.00 153075.00 12128.00 USD Million [+]
Banks Balance Sheet 15992700.00 16007300.00 16007300.00 697581.70 USD Million [+]
Central Bank Balance Sheet 4431620.00 4429770.00 4473860.00 672444.00 USD Million [+]
Loans to Private Sector 2056.93 2053.27 2056.93 13.65 USD Billion [+]
Private Debt to GDP 197.51 197.32 212.98 155.67 percent [+]
Foreign Bond Investment -18295.00 -74582.00 118012.00 -74582.00 USD Million [+]




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