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.

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.

Graph and download economic data for Federal Funds Effective Rate (RIFSPFFNB) from 1954-07-01 to 2025-06-18 about funds, federal, interest rate, interest, rate, and USA.

Graph and download economic data for Equity Market Volatility Tracker: Macroeconomic News and Outlook: Interest Rates (EMVMACROINTEREST) from Jan 1985 to Jun 2025 about volatility, uncertainty, equity, interest rate, interest, rate, and USA.

Inflation Nowcasting Monthly Month-Over-Month is a part of the Inflation Nowcasting indicator of the Federal Reserve Bank of Cleveland.

Graph and download economic data for Federal Funds Target Range - Upper Limit (DFEDTARU) from 2008-12-16 to 2025-07-31 about federal, interest rate, interest, rate, and USA.

The U.S. federal funds rate peaked in 2023 at its highest level since the 2007-08 financial crisis, reaching 5.33 percent by December 2023. A significant shift in monetary policy occurred in the second half of 2024, with the Federal Reserve implementing regular rate cuts. By December 2024, the rate had declined to 4.48 percent. What is a central bank rate? The federal funds rate determines the cost of overnight borrowing between banks, allowing them to maintain necessary cash reserves and ensure financial system liquidity. When this rate rises, banks become more inclined to hold rather than lend money, reducing the money supply. While this decreased lending slows economic activity, it helps control inflation by limiting the circulation of money in the economy. Historic perspective The federal funds rate historically follows cyclical patterns, falling during recessions and gradually rising during economic recoveries. Some central banks, notably the European Central Bank, went beyond traditional monetary policy by implementing both aggressive asset purchases and negative interest rates.

United States Median Wage Growth: 3-Mo Mov Avg: Upper Half of Wage Dist data was reported at 4.500 % in Apr 2025. This stayed constant from the previous number of 4.500 % for Mar 2025. United States Median Wage Growth: 3-Mo Mov Avg: Upper Half of Wage Dist data is updated monthly, averaging 3.600 % from Mar 1997 (Median) to Apr 2025, with 338 observations. The data reached an all-time high of 6.300 % in May 2023 and a record low of 1.500 % in Nov 2010. United States Median Wage Growth: 3-Mo Mov Avg: Upper Half of Wage Dist data remains active status in CEIC and is reported by Federal Reserve Bank of Atlanta. The data is categorized under Global Database’s United States – Table US.G113: Atlanta Fed Wage Growth Tracker: 3-Month Moving Average.

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

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.

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.

United States Median Wage Growth: 12-Mo Mov Avg: Female data was reported at 4.500 % in Apr 2025. This records a decrease from the previous number of 4.700 % for Mar 2025. United States Median Wage Growth: 12-Mo Mov Avg: Female data is updated monthly, averaging 3.600 % from Dec 1997 (Median) to Apr 2025, with 329 observations. The data reached an all-time high of 6.300 % in May 2023 and a record low of 1.800 % in Mar 2012. United States Median Wage Growth: 12-Mo Mov Avg: Female data remains active status in CEIC and is reported by Federal Reserve Bank of Atlanta. The data is categorized under Global Database’s United States – Table US.G: Atlanta Fed Wage Growth Tracker: 12-Month Moving Average.

United States Median Wage Growth: 12-Mo Mov Avg: West North Central data was reported at 4.200 % in Apr 2025. This stayed constant from the previous number of 4.200 % for Mar 2025. United States Median Wage Growth: 12-Mo Mov Avg: West North Central data is updated monthly, averaging 3.800 % from Dec 1997 (Median) to Apr 2025, with 329 observations. The data reached an all-time high of 6.600 % in Mar 2023 and a record low of 2.100 % in Apr 2011. United States Median Wage Growth: 12-Mo Mov Avg: West North Central data remains active status in CEIC and is reported by Federal Reserve Bank of Atlanta. The data is categorized under Global Database’s United States – Table US.G: Atlanta Fed Wage Growth Tracker: 12-Month Moving Average.

United States - Equity Market Volatility Tracker: Agricultural Policy was 0.45100 Index in June of 2025, according to the United States Federal Reserve. Historically, United States - Equity Market Volatility Tracker: Agricultural Policy reached a record high of 0.64168 in April of 2025 and a record low of 0.00000 in April of 1985. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Equity Market Volatility Tracker: Agricultural Policy - last updated from the United States Federal Reserve on July of 2025.

United States - Equity Market Volatility Tracker: Commodity Markets was 14.92491 Index in May of 2025, according to the United States Federal Reserve. Historically, United States - Equity Market Volatility Tracker: Commodity Markets reached a record high of 32.29797 in April of 2025 and a record low of 3.63416 in October of 1985. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Equity Market Volatility Tracker: Commodity Markets - last updated from the United States Federal Reserve on July of 2025.

Graph and download economic data for GDPNow (GDPNOW) from Q3 2011 to Q2 2025 about nowcast, projection, headline figure, GDP, rate, and USA.

View the total value of the assets of all Federal Reserve Banks as reported in the weekly balance sheet.

Graph and download economic data for Federal Debt: Total Public Debt (GFDEBTN) from Q1 1966 to Q1 2025 about public, debt, federal, government, and USA.

Graph and download economic data for Equity Market Volatility Tracker: Macroeconomic News and Outlook: Inflation (EMVMACROINFLATION) from Jan 1985 to Jun 2025 about volatility, uncertainty, equity, inflation, and USA.

United States Median Wage Growth: 12-Mo Mov Avg: Lowest Quartile of Wage Dist data was reported at 3.900 % in Apr 2025. This records a decrease from the previous number of 4.100 % for Mar 2025. United States Median Wage Growth: 12-Mo Mov Avg: Lowest Quartile of Wage Dist data is updated monthly, averaging 4.100 % from Dec 1997 (Median) to Apr 2025, with 329 observations. The data reached an all-time high of 7.500 % in Nov 2022 and a record low of 1.100 % in Feb 2012. United States Median Wage Growth: 12-Mo Mov Avg: Lowest Quartile of Wage Dist data remains active status in CEIC and is reported by Federal Reserve Bank of Atlanta. The data is categorized under Global Database’s United States – Table US.G114: Atlanta Fed Wage Growth Tracker: 12-Month Moving Average.