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.

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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%
2016-05-02 09:30 PM Fed Williams Speech
2016-05-03 02:30 PM Fed Mester Speech
2016-05-03 11:00 PM Fed Lockhart Speech

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 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.

Excerpts from the FOMC Statement:

Information received since the Federal Open Market Committee met in March indicates that labor market conditions have improved further even as growth in economic activity appears to have slowed. Growth in household spending has moderated, although households' real income has risen at a solid rate and consumer sentiment remains high. Since the beginning of the year, the housing sector has improved further but business fixed investment and net exports have been soft. A range of recent indicators, including strong job gains, points to additional strengthening of the labor market. Inflation has 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 remain low; 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 continue to 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 declines in energy and import prices dissipate and the labor market strengthens further. 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.

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, and it anticipates doing so until normalization of the level of the federal funds rate is well under way. This policy, by keeping the Committee's holdings of longer-term securities at sizable levels, should help maintain accommodative financial conditions.

Federal Reserve | Joana Taborda | joana.taborda@tradingeconomics.com
4/27/2016 7:32:35 PM

United States Money Last Previous Highest Lowest Unit
Interest Rate 0.50 0.50 20.00 0.25 percent [+]
Interbank Rate 0.64 0.64 10.63 0.22 percent [+]
Money Supply M0 3898447.00 3872547.00 4075024.00 48362.00 USD Million [+]
Money Supply M1 3145.40 3102.00 3145.40 138.90 USD Billion [+]
Money Supply M2 12567.20 12472.80 12567.20 286.60 USD Billion [+]
Foreign Exchange Reserves 119727.00 117218.00 153075.00 12128.00 USD Million [+]
Central Bank Balance Sheet 4447990.00 4443600.00 4473860.00 672444.00 USD Million [+]
Banks Balance Sheet 15889800.00 15812500.00 15889800.00 697581.70 USD Million [+]
Loans to Private Sector 2023.14 2000.80 2023.14 13.65 USD Billion [+]
Foreign Bond Investment 9905.00 -50409.00 118012.00 -55153.00 USD Million [+]

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