United States Fed Funds Rate - 2023 Data - 1971-2022 Historical - 2024 Forecast
https://tradingeconomics.com/united-states/interest-rateAlmost all FOMC participants judged it appropriate to leave the fed funds rate steady in June, as it would allow them more time to assess the economy's progress toward maximum employment and price stability, minutes from the FOMC meeting in June 2023 showed. However, some favored raising rates by 25bps. Still, all officials continued to anticipate that, with inflation still well above 2% goal and the labor market remaining very tight, maintaining a restrictive stance for monetary policy would be appropriate, and almost all considered appropriate to raise borrowing costs again this year. Many also noted that a further moderation in the pace of policy firming was appropriate in order to provide additional time to observe the effects of cumulative tightening and assess their implications for policy. The Fed left the target for the funds rate unchanged at 5%-5.25% in June. After the FOMC decision, Fed Chair has reinforced several times the need to raise rates further this year. Interest Rate in the United States averaged 5.42 percent from 1971 until 2023, 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.
