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US Fed Funds Rate

The United States Fed Funds Interest Rate fell to 3% in September 2025, down from 4.5% in July 2025. This recent decrease marks the lowest rate in three weeks. The Federal Reserve adjusted its monetary policy due to moderating job gains and persistent elevated inflation. The United States Fed Funds Interest Rate averaged 3.14% from 1990 to 2025. United States' record low Fed Funds Interest Rate was 0.25% in December 2008 and record high was 8% in July 1990.

Historical Data (1990-2025)

(in %)
Date Fed Funds Rate
Sep 17, 2025 4.25%
Jul 30, 2025 4.5%
Jun 18, 2025 4.5%
May 07, 2025 4.5%
Mar 19, 2025 4.5%
Jan 29, 2025 4.5%
Dec 18, 2024 4.5%
Nov 07, 2024 4.75%
Sep 19, 2024 5%
Jul 31, 2024 5.5%
Jun 12, 2024 5.5%
May 01, 2024 5.5%
Mar 20, 2024 5.5%
Jan 31, 2024 5.5%
Dec 13, 2023 5.5%
Oct 31, 2023 5.5%
Sep 20, 2023 5.5%
Jul 26, 2023 5.5%
Jun 14, 2023 5.25%
May 03, 2023 5.25%
Mar 22, 2023 5%
Jan 31, 2023 4.5%
Dec 14, 2022 4.5%
Nov 02, 2022 4%
Sep 21, 2022 3.25%
Jul 28, 2022 2.5%
Jun 15, 2022 1.75%
May 04, 2022 1%
Mar 16, 2022 0.5%
Jan 26, 2022 0.25%
Dec 15, 2021 0.25%
Nov 03, 2021 0.25%
Sep 22, 2021 0.25%
Jul 28, 2021 0.25%
Jun 16, 2021 0.25%
Apr 28, 2021 0.25%
Mar 17, 2021 0.25%
Jan 27, 2021 0.25%
Dec 16, 2020 0.25%
Nov 05, 2020 0.25%
Sep 16, 2020 0.25%
Jul 29, 2020 0.25%
Jun 10, 2020 0.25%
Apr 29, 2020 0.25%
Mar 15, 2020 0.25%
Jan 29, 2020 1.75%
Dec 11, 2019 1.75%
Oct 30, 2019 1.75%
Sep 18, 2019 2%
Jul 31, 2019 2.25%
Jun 19, 2019 2.5%
Apr 30, 2019 2.5%
Mar 20, 2019 2.5%
Jan 30, 2019 2.5%
Dec 19, 2018 2.5%
Nov 08, 2018 2.25%
Sep 26, 2018 2.25%
Jul 31, 2018 2%
Jun 13, 2018 2%
May 02, 2018 1.75%
Mar 21, 2018 1.75%
Jan 31, 2018 1.5%
Dec 13, 2017 1.5%
Oct 31, 2017 1.25%
Sep 20, 2017 1.25%
Jul 26, 2017 1.25%
Jun 14, 2017 1.25%
May 03, 2017 1%
Mar 16, 2017 1%
Jan 31, 2017 0.75%
Dec 14, 2016 0.75%
Nov 02, 2016 0.5%
Sep 21, 2016 0.5%
Jul 27, 2016 0.5%
Jun 15, 2016 0.5%
Apr 27, 2016 0.5%
Mar 16, 2016 0.5%
Jan 27, 2016 0.5%
Dec 16, 2015 0.5%
Oct 28, 2015 0.25%
Sep 17, 2015 0.25%
Dec 16, 2008 0.25%
Oct 29, 2008 1%
Oct 08, 2008 1.5%
Apr 30, 2008 2%
Mar 18, 2008 2.25%
Jan 30, 2008 3%
Jan 22, 2008 3.5%
Dec 11, 2007 4.25%
Oct 31, 2007 4.5%
Sep 18, 2007 4.75%
Jun 29, 2006 5.25%
May 10, 2006 5%
Mar 28, 2006 4.75%
Jan 31, 2006 4.5%
Dec 13, 2005 4.25%
Nov 01, 2005 4%
Sep 20, 2005 3.75%
Aug 09, 2005 3.5%
Jun 30, 2005 3.25%
May 03, 2005 3%
Mar 22, 2005 2.75%
Feb 02, 2005 2.5%
Dec 14, 2004 2.25%
Nov 10, 2004 2%
Sep 21, 2004 1.75%
Aug 10, 2004 1.5%
Jun 30, 2004 1.25%
Jun 25, 2003 1%
Nov 06, 2002 1.25%
Dec 11, 2001 1.75%
Nov 06, 2001 2%
Oct 02, 2001 2.5%
Aug 21, 2001 3.5%
Jun 27, 2001 3.75%
May 15, 2001 4%
Mar 20, 2001 5%
Jan 03, 2001 6%
May 16, 2000 6.5%
Mar 21, 2000 6%
Feb 02, 2000 5.75%
Nov 16, 1999 5.5%
Aug 24, 1999 5.25%
Jun 30, 1999 5%
Nov 17, 1998 4.75%
Oct 15, 1998 5%
Sep 29, 1998 5.25%
Mar 25, 1997 5.5%
Jan 31, 1996 5.25%
Dec 19, 1995 5.5%
Jul 06, 1995 5.75%
Feb 01, 1995 6%
Nov 15, 1994 5.5%
Aug 16, 1994 4.75%
May 17, 1994 4.25%
Mar 22, 1994 3.5%
Feb 04, 1994 3.25%
Sep 04, 1992 3%
Jul 02, 1992 3.25%
Apr 09, 1992 3.75%
Dec 20, 1991 4%
Nov 06, 1991 4.75%
Oct 31, 1991 5%
Sep 13, 1991 5.25%
Aug 06, 1991 5.5%
Apr 30, 1991 5.75%
Mar 08, 1991 6%
Jan 09, 1991 6.75%
Dec 07, 1990 7.25%
Nov 13, 1990 7.5%
Oct 29, 1990 7.75%
Jul 13, 1990 8%

Recent Events

datetime event actual previous consensus
2025-10-29 02:00 PM Fed Interest Rate Decision - 4.25% 4%
2025-09-17 02:00 PM Fed Interest Rate Decision 4.25% 4.5% 4.25%
2025-09-17 02:00 PM Interest Rate Projection - 1st Yr 3.4% 3.6% -
2025-09-17 02:00 PM Interest Rate Projection - 2nd Yr 3.1% 3.4% -
2025-09-17 02:00 PM Interest Rate Projection - 3rd Yr 3.1% 3.1% -
2025-09-17 02:00 PM Interest Rate Projection - Current 3.6% 3.9% -
2025-09-17 02:00 PM Interest Rate Projection - Longer 3% 3% -

Next Release Date :

US Fed Funds Rate : Definition
The United States federal funds rate is the target for overnight lending between banks of their reserve balances held at the Federal Reserve. The market rate is set by supply and demand for these reserves. The Federal Reserve uses open market operations to guide the effective rate into its target range.
Indicator Last Value Prior Value Period
Current Account to GDP Ratio -3.9% -3.3% Dec'24
Gross Federal Debt to GDP 124% 122% Dec'24
Personal Income 0.4% 0.4% Aug'25
Private Credit (% GDP) 197.9% 192.53% 2024