United States - FOMC Summary of Economic Projections for the Growth Rate of Real Gross Domestic Product, Range, Midpoint was 1.55000 Fourth Qtr. to Fourth Qtr. % Chg. in January of 2027, according to the United States Federal Reserve. Historically, United States - FOMC Summary of Economic Projections for the Growth Rate of Real Gross Domestic Product, Range, Midpoint reached a record high of 5.55000 in January of 2021 and a record low of -2.15000 in January of 2020. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - FOMC Summary of Economic Projections for the Growth Rate of Real Gross Domestic Product, Range, Midpoint - last updated from the United States Federal Reserve on July of 2025.

Graph and download economic data for FOMC Summary of Economic Projections for the Fed Funds Rate, Range, Low (FEDTARRL) from 2025 to 2027 about projection, federal, rate, and USA.

The benchmark interest rate in the United States was last recorded at 4.50 percent. This dataset 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 - FOMC Summary of Economic Projections for the Fed Funds Rate, Range, Midpoint was 3.25% in January of 2027, according to the United States Federal Reserve. Historically, United States - FOMC Summary of Economic Projections for the Fed Funds Rate, Range, Midpoint reached a record high of 5.40 in January of 2023 and a record low of 0.10 in January of 2020. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - FOMC Summary of Economic Projections for the Fed Funds Rate, Range, Midpoint - last updated from the United States Federal Reserve on June of 2025.

Graph and download economic data for Federal Funds Target Range - Upper Limit (DFEDTARU) from 2008-12-16 to 2025-07-15 about federal, interest rate, interest, rate, and USA.

This dataset contains the textual data of Federal Reserve Federal Open Market Committee (FOMC) meeting statements and minutes. Its purpose is to provide a historical archive of communications from the US central bank, offering valuable context and insights into monetary policy decisions and economic outlooks over time. The dataset is regularly updated, ensuring access to the latest official communications.

Columns

• Date: This column specifies the date of the actual FOMC meeting.
• Release Date: This indicates when the statement or minutes were officially released to the public. It is important to note that minutes are typically released with approximately a three-week lag from the meeting date.
• Type: This column categorises the communication, distinguishing between a formal 'statement' and the more detailed 'minutes' of the meeting.
• Text: This contains the full textual content of each communication release, whether it is a statement or minutes.

Distribution

The dataset is typically provided in a CSV (Comma Separated Values) format. It includes communications from 2 February 2000 to 18 June 2025. The file is updated on a weekly basis with new data sourced directly from the Federal Reserve website. Based on available information, there are approximately 420 records within the specified date range. The dataset comprises roughly 52% minutes and 48% statements.

Usage

This dataset is ideal for various applications and use cases, particularly within finance, banking, and economics. It can be used for: * Natural Language Processing (NLP) tasks, such as sentiment analysis or topic modelling on central bank communications. * Economic research to analyse policy shifts, communication strategies, and their impact on financial markets. * Financial modelling and forecasting, by integrating insights from official monetary policy communications. * Academic studies on central banking, macroeconomic policy, and financial history.

Coverage

The dataset covers the period from 2 February 2000 to 18 June 2025, providing an extensive historical record of FOMC communications. While the content focuses on US monetary policy, which is inherently US-centric, the dataset's availability is global, making it accessible to users worldwide. There are no specific notes on data availability for certain demographic groups or years, as the data represents official public releases.

License

CC0

Who Can Use It

This dataset is designed for a wide range of users, including: * Financial analysts and economists seeking to understand and forecast monetary policy decisions. * Data scientists and machine learning engineers developing NLP models for financial text. * Academic researchers in economics, finance, and political science studying central bank behaviour and communication. * Government policy advisors interested in historical policy decisions and their effects. * Journalists and media professionals reporting on economic and financial news.

Dataset Name Suggestions

• Federal Reserve FOMC Communications Archive
• US Monetary Policy Statements and Minutes
• Central Bank Economic Communications
• FOMC Historical Document Collection

Attributes

Original Data Source: FOMC Meeting Statements & Minutes

This dataset contains the textual data of Federal Reserve FOMC meetings statements and minutes.

Column description

• Date - Date of the FOMC meeting.
• Release Date - Release date of the statement/minutes. Note that minutes are usually released with a ~3 week lag from the meeting date.
• Type - Communication type, either a statement or minutes.
• Text - The text content of each communication release.

Update schedule

This dataset is updated on a weekly basis with new data sourced from the Federal Reserve website.

The inflation rate in the United States declined significantly between June 2022 and May 2025, despite rising inflationary pressures towards the end of 2024. The peak inflation rate was recorded in June 2022, at *** percent. In August 2023, the Federal Reserve's interest rate hit its highest level during the observed period, at **** percent, and remained unchanged until September 2024, when the Federal Reserve implemented its first rate cut since September 2021. By January 2025, the rate dropped to **** percent, signalling a shift in monetary policy. What is the Federal Reserve interest rate? The Federal Reserve interest rate, or the federal funds rate, is the rate at which banks and credit unions lend to and borrow from each other. It is one of the Federal Reserve's key tools for maintaining strong employment rates, stable prices, and reasonable interest rates. The rate is determined by the Federal Reserve and adjusted eight times a year, though it can be changed through emergency meetings during times of crisis. The Fed doesn't directly control the interest rate but sets a target rate. It then uses open market operations to influence rates toward this target. Ways of measuring inflation Inflation is typically measured using several methods, with the most common being the Consumer Price Index (CPI). The CPI tracks the price of a fixed basket of goods and services over time, providing a measure of the price changes consumers face. At the end of 2023, the CPI in the United States was ****** percent, up from ****** a year earlier. A more business-focused measure is the producer price index (PPI), which represents the costs of firms.

This dataset contains text from Federal Reserve FOMC (Federal Open Market Committee) meeting minutes and statements. It was collected by scraping the Federal Reserve's official website. The dataset provides insights into the central bank's monetary policy decisions and discussions, spanning a specific period of time.

Columns

• Date: The date of the FOMC meeting or statement release, provided in the YYYYMMDD format.
• Type: An indicator for the document type. A value of '0' signifies a statement, while '1' indicates meeting minutes.
• Text: The actual text content of each paragraph from the meeting minutes or statements.

Distribution

The dataset is typically provided in CSV file format. While specific total row or record counts are not detailed, the data contains a substantial volume of text from numerous documents across various dates.

Usage

This dataset is ideal for various analytical and research purposes, including: * Analysing the sentiment and tone of FOMC meeting minutes and statements over time. * Identifying key phrases and words that signify shifts in monetary policy. * Developing natural language processing (NLP) models to forecast future policy decisions based on historical data. * Investigating the relationship between FOMC meeting minutes/statements and financial market reactions.

Coverage

The dataset primarily covers the activities and discussions of the Federal Reserve's Federal Open Market Committee, making its scope relevant to US economic and financial policy. The data spans a specific, extended period of time, though precise start and end dates are not explicitly detailed in the general description. The listing indicates a global region for the dataset's availability.

License

CCO

Who Can Use It

This dataset is particularly valuable for: * Economists and financial analysts studying central bank policy and its impact. * Data scientists and NLP practitioners looking to build models based on financial text data. * Academic researchers investigating monetary policy, economic trends, and financial markets. * Journalists reporting on central banking and economic policy.

Dataset Name Suggestions

• Federal Reserve FOMC Documents
• US Monetary Policy Texts
• FOMC Meeting & Statement Archive
• Federal Reserve Policy Transcripts
• Central Bank Monetary Data

Attributes

Original Data Source: Federal Reserve FOMC Minutes & Statements Dataset

FOMC Meeting Policy Statements Dataset (Year 2000+, updated monthly)

  Overview

This dataset contains the policy statements released by the Federal Open Market Committee (FOMC) following each of its meetings from year 2000 onwords. The FOMC, a component of the U.S. Federal Reserve System, determines monetary policy in the United States. The statements provide insights into the committee’s policy decisions, economic outlook, and forward guidance.

  Background on Policy… See the full description on the dataset page: https://huggingface.co/datasets/Coding-Fish/fomc-statements.

The U.S. federal funds effective rate underwent a dramatic reduction in early 2020 in response to the COVID-19 pandemic. The rate plummeted from 1.58 percent in February 2020 to 0.65 percent in March, and further decreased to 0.05 percent in April. This sharp reduction, accompanied by the Federal Reserve's quantitative easing program, was implemented to stabilize the economy during the global health crisis. After maintaining historically low rates for nearly two years, the Federal Reserve began a series of rate hikes in early 2022, with the rate moving from 0.33 percent in April 2022 to 5.33 percent in August 2023. The rate remained unchanged for over a year, before the Federal Reserve initiated its first rate cut in nearly three years in September 2024, bringing the rate to 5.13 percent. By December 2024, the rate was cut to 4.48 percent, signaling a shift in monetary policy in the second half of 2024. In January 2025, the Federal Reserve implemented another cut, setting the rate at 4.33 percent, which remained unchanged throughout the following months. What is the federal funds effective rate? The U.S. federal funds effective rate determines the interest rate paid by depository institutions, such as banks and credit unions, that lend reserve balances to other depository institutions overnight. Changing the effective rate in times of crisis is a common way to stimulate the economy, as it has a significant impact on the whole economy, such as economic growth, employment, and inflation. Central bank policy rates The adjustment of interest rates in response to the COVID-19 pandemic was a coordinated global effort. In early 2020, central banks worldwide implemented aggressive monetary easing policies to combat the economic crisis. The U.S. Federal Reserve's dramatic reduction of its federal funds rate - from 1.58 percent in February 2020 to 0.05 percent by April - mirrored similar actions taken by central banks globally. While these low rates remained in place throughout 2021, mounting inflationary pressures led to a synchronized tightening cycle beginning in 2022, with central banks pushing rates to multi-year highs. By mid-2024, as inflation moderated across major economies, central banks began implementing their first rate cuts in several years, with the U.S. Federal Reserve, Bank of England, and European Central Bank all easing monetary policy.

United States - FOMC Summary of Economic Projections for the Personal Consumption Expenditures Inflation Rate, Central Tendency, High was 2.10000 Fourth Qtr. to Fourth Qtr. % Chg. in January of 2027, according to the United States Federal Reserve. Historically, United States - FOMC Summary of Economic Projections for the Personal Consumption Expenditures Inflation Rate, Central Tendency, High reached a record high of 5.80000 in January of 2022 and a record low of 1.30000 in January of 2020. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - FOMC Summary of Economic Projections for the Personal Consumption Expenditures Inflation Rate, Central Tendency, High - last updated from the United States Federal Reserve on July of 2025.

Graph and download economic data for FOMC Summary of Economic Projections for the Growth Rate of Real Gross Domestic Product, Central Tendency, Midpoint (GDPC1CTM) from 2025 to 2027 about projection, real, GDP, rate, and USA.

Label Interpretation

LABEL_2: NeutralLABEL_1: HawkishLABEL_0: Dovish

  Citation and Contact Information





  Cite

Please cite our paper if you use any code, data, or models. @inproceedings{shah-etal-2023-trillion, title = "Trillion Dollar Words: A New Financial Dataset, Task {&} Market Analysis", author = "Shah, Agam and Paturi, Suvan and Chava, Sudheer", booktitle = "Proceedings of the 61st Annual Meeting of the Association for… See the full description on the dataset page: https://huggingface.co/datasets/gtfintechlab/fomc_communication.

Daily Federal Funds Rate from 1928-1954 (https://fred.stlouisfed.org/categories/33951).

The federal funds rate is the interest rate at which depository institutions trade federal funds (balances held at Federal Reserve Banks) with each other overnight. When a depository institution has surplus balances in its reserve account, it lends to other banks in need of larger balances. In simpler terms, a bank with excess cash, which is often referred to as liquidity, will lend to another bank that needs to quickly raise liquidity. (1) The rate that the borrowing institution pays to the lending institution is determined between the two banks; the weighted average rate for all of these types of negotiations is called the effective federal funds rate.(2) The effective federal funds rate is essentially determined by the market but is influenced by the Federal Reserve through open market operations to reach the federal funds rate target.(2) The Federal Open Market Committee (FOMC) meets eight times a year to determine the federal funds target rate. As previously stated, this rate influences the effective federal funds rate through open market operations or by buying and selling of government bonds (government debt).(2) More specifically, the Federal Reserve decreases liquidity by selling government bonds, thereby raising the federal funds rate because banks have less liquidity to trade with other banks. Similarly, the Federal Reserve can increase liquidity by buying government bonds, decreasing the federal funds rate because banks have excess liquidity for trade. Whether the Federal Reserve wants to buy or sell bonds depends on the state of the economy. If the FOMC believes the economy is growing too fast and inflation pressures are inconsistent with the dual mandate of the Federal Reserve, the Committee may set a higher federal funds rate target to temper economic activity. In the opposing scenario, the FOMC may set a lower federal funds rate target to spur greater economic activity. Therefore, the FOMC must observe the current state of the economy to determine the best course of monetary policy that will maximize economic growth while adhering to the dual mandate set forth by Congress. In making its monetary policy decisions, the FOMC considers a wealth of economic data, such as: trends in prices and wages, employment, consumer spending and income, business investments, and foreign exchange markets. The federal funds rate is the central interest rate in the U.S. financial market. It influences other interest rates such as the prime rate, which is the rate banks charge their customers with higher credit ratings. Additionally, the federal funds rate indirectly influences longer- term interest rates such as mortgages, loans, and savings, all of which are very important to consumer wealth and confidence.(2) References (1) Federal Reserve Bank of New York. "Federal funds." Fedpoints, August 2007. (2) Board of Governors of the Federal Reserve System. "Monetary Policy (https://www.federalreserve.gov/monetarypolicy.htm)".

For questions on the data, please contact the data source (https://www.federalreserve.gov/apps/ContactUs/feedback.aspx?refurl=/releases/h15/%). For questions on FRED functionality, please contact us here (https://fred.stlouisfed.org/contactus/).

Graph and download economic data for Longer Run FOMC Summary of Economic Projections for the Fed Funds Rate, Median (FEDTARMDLR) from 2012-01-25 to 2025-06-18 about projection, federal, median, rate, and USA.

The Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS) surveys up to 80 large domestic banks and 24 U.S. branches and agencies of foreign banks. The Federal Reserve generally conducts the survey quarterly, timing it so that results are available for the January/February, April/May, August, and October/November meetings of the Federal Open Market Committee (FOMC). The Federal Reserve occasionally conducts one or two additional surveys during the year. Questions cover changes in the standards and terms of the banks' lending and the state of business and household demand for loans. The survey often includes questions on other topics of current interest. The survey results are released on Mondays after the FOMC meeting.

The Federal Reserve Bank of Cleveland provides daily “nowcasts” of inflation for two popular price indexes, the price index for personal consumption expenditures (PCE) and the Consumer Price Index (CPI). These nowcasts give a sense of where inflation is today. Released each business day.

Graph and download economic data for Federal Funds Target Rate (DISCONTINUED) (DFEDTAR) from 1982-09-27 to 2008-12-15 about federal, interest rate, interest, rate, and USA.

Federal Open Market Committee (FOMC) projections are important because they provide information for evaluating current monetary policy intentions and because they indicate what FOMC members think will be the likely consequence of their policies. Knowing the Fed's objectives, their forecasts, and recent deviations of the economy from the forecasts should be sufficient to understand how the Fed is making monetary policy. Results here show that the Blue Chip consensus forecasts are a good proxy for the FOMC views. For example, they match the policymakers' views as closely as do the Board staff forecasts presented at FOMC meetings. Using alternative forms of the Taylor rule, the authors show that the Blue Chip consensus and the Fed policymakers' forecasts have almost identical implications for the monetary policy process.