The benchmark interest rate in the United States was last recorded at 4 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 until September 2025, when another cut set the rate at 4.22 percent. In October 2025, the rate was further reduced to 4.09 percent. 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 Target Range - Upper Limit (DFEDTARU) from 2008-12-16 to 2025-12-01 about federal, interest rate, interest, rate, and USA.

In September 2025, global inflation rates and central bank interest rates showed significant variation across major economies. Most economies initiated interest rate cuts from mid-2024 due to declining inflationary pressures. The U.S., UK, and EU central banks followed a consistent pattern of regular rate reductions throughout late 2024. In September 2025, Russia maintained the highest interest rate at 17 percent, while Japan retained the lowest at 0.5 percent. Varied inflation rates across major economies The inflation landscape varies considerably among major economies. China had the lowest inflation rate at -0.3 percent in September 2025. In contrast, Russia maintained a high inflation rate of 8 percent. These figures align with broader trends observed in early 2025, where China had the lowest inflation rate among major developed and emerging economies, while Russia's rate remained the highest. Central bank responses and economic indicators Central banks globally implemented aggressive rate hikes throughout 2022-23 to combat inflation. The European Central Bank exemplified this trend, raising rates from 0 percent in January 2022 to 4.5 percent by September 2023. A coordinated shift among major central banks began in mid-2024, with the ECB, Bank of England, and Federal Reserve initiating rate cuts, with forecasts suggesting further cuts through 2025 and 2026.

View data of the Effective Federal Funds Rate, or the interest rate depository institutions charge each other for overnight loans of funds.

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.

The benchmark interest rate in the United Kingdom was last recorded at 4 percent. This dataset provides - United Kingdom Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The benchmark interest rate in Brazil was last recorded at 15 percent. This dataset provides - Brazil Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for 15-Year Fixed Rate Mortgage Average in the United States (MORTGAGE15US) from 1991-08-30 to 2025-11-26 about 15-year, mortgage, fixed, interest rate, interest, rate, and USA.

The benchmark interest rate in Mexico was last recorded at 7.25 percent. This dataset provides - Mexico Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The benchmark interest rate in Canada was last recorded at 2.25 percent. This dataset provides - Canada Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for FOMC Summary of Economic Projections for the Fed Funds Rate, Median (FEDTARMD) from 2025 to 2028 about projection, federal, median, rate, and USA.

Car loan interest rates in the United States decreased since mid-2024. Thus, the period of rapidly rising interest rates, when they increased from 3.85 percent in December 2021 to 7.92 percent in June 2024, has come to an end. The Federal Reserve interest rate is one of the main causes of the interest rates of loans rising or falling. If inflation stays under control, the Federal Reserve will start cutting the interest rates, which would have the effect of the cost of car loans falling too. How many cars have financing in the United States? Car financing exists because not everyone who wants or needs a car can purchase it outright. A financial institution will then lend the money to the customer for purchasing the car, which must then be repaid with interest. Most new vehicles in the United States in 2024 were purchased using car loans. It is not as common to use car loans for purchasing used vehicles as for new ones, although over a third of used vehicles were purchased using loans. The car industry in the United States The car financing business is huge in the United States, due to the high sales of both new and used vehicles in the country. A lot of the United States is very car-centric, which means that, outside large cities, it can often be difficult to do their daily commutes through other transportation methods. In fact, only a small percentage of U.S. workers used public transport to go to work. That is one of the factors that has helped establish the importance of the automotive sector in North America. Nevertheless, there are still countries in Asia-Pacific, Africa, the Middle East, and Europe with higher car-ownership rates than the United States.

The benchmark interest rate In the Euro Area was last recorded at 2.15 percent. This dataset provides - Euro Area Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

This table contains 38 series, with data starting from 1957 (not all combinations necessarily have data for all years). This table contains data described by the following dimensions (Not all combinations are available): Geography (1 item: Canada), Rates (38 items: Bank rate; Chartered bank administered interest rates - prime business; Chartered bank - consumer loan rate; Forward premium or discount (-), United States dollars in Canada: 1 month; ...).

The Inflation Reduction Act of 2022 (IRA) became law on August 8, 2022. Under the law, new qualifying renewable and/or carbon-free electricity generation projects constructed in certain areas of the US, called energy communities, are eligible for bonus worth an additional 10% to the value of the production tax credit or a 10 percentage point increase in the value of the investment tax credit. The IRA does not explicitly map or list these specific communities. Instead, eligible communities are defined by a series of qualifications:

a brownfield site,

a metropolitan statistical area (MSA) or non-metropolitan statistical area with either (a) 0.17% or greater employment or (b) 25% or greater local tax revenues related to the extraction, processing, transport, or storage of coal, oil, or natural gas; and an unemployment rate at or above the national average for the previous year, or

a census tract containing or adjacent to (a) a coal mine closed after December 31, 1999 or (b) a coal-fired electric generating unit retired after December 31, 2009.

These maps and data layers contain GIS data for coal mines, coal-fired power plants, fossil energy related employment, and brownfield sites. Each record represents a point, tract or metropolitan statistical area and non-metropolitan statistical area with attributes including plant type, operating information, GEOID, etc. The input data used includes:

Brownfields – Source: EPA. No analysis was performed on this data layer. However, tract polygon layers have a column denoting brownfield presence (0 for no brownfield site, 1 if the tract contains a brownfield somewhere within the polygon).

Eligible Employment MSAs (“Final_Employment_Qualifying_MSAs”) – Source: US Census County Business Patterns. MSAs and non-MSA regions with employment over 0.17% in the fossil fuel industry (defined here as NAICS codes 211, 2121, 213, 23712, 324, 4247, and 486) and unemployment greater than or equal to 3.9% (the average national unemployment rate in 2021, according to the Bureau of Labor Statistics).

--Possibly Eligible MSAs (“FossilFuel_Employment_Qualifying_MSAs”) are MSA and non-MSA regions that meet or exceed the 0.17% employment in the fossil fuel industry threshold but do not exceed the unemployment threshold.

--Relevant columns include:

  a) SUM_nhgis0: Total employment in 2020.


  b) SUM_nhgis1: Total unemployment in 2020.


  c) P_Unemp: Percent unemployment in 2020.


  d) Q_Unemp: Boolean column indicating if the MSA or non-MSA’s unemployment rate is at or above the national average of 3.9%.


  e) FF_Qual: Boolean column indicating if the MSA or non-MSA had employment in the fossil fuel industry at or above 0.17% in the past 11 years.


  f) final_Qual: Boolean column indicating if an MSA or non-MSA qualifies for both unemployment rate and fossil fuel employment under the IRA.

Retired Power Plants – Source: EIA via HFLID. Qualifying power plants were selected by use of coal in at least one generator, and if they were retired (RET_DATE) on or after January 1, 2010. This data goes through December 2021.

--Adjacent tract data was derived by Cecelia Isaac using ESRI ArcGIS Pro.

Abandoned Coal Mines – Source: MSHA. Mines labeled “Abandoned”, “Abandoned and Sealed” or “NonProducing” between January 1, 2000 and September 2022.

--Adjacent tract data was derived by Cecelia Isaac using ESRI ArcGIS Pro.

5) US State Borders– Source: IPUMS NHGIS.

Also included here are polygon shapefiles for Onshore Wind and Solar Candidate Project Areas from Princeton REPEAT. These files have been updated to include columns related to the energy communities.

New columns include:

CoalPlantTract: Boolean column indicating if the CPA is within a tract that qualifies because of a retired coal plant.

CoalMineTract: Boolean column indicating if the CPA is within a tract that qualifies because of a closed coal mine.

FossilFuelEmp: Boolean column indicating if the CPA is within an MSA or non-MSA with greater than or equal to 0.17% employment in the fossil fuel industry.

UnempQualification: Boolean column indicating if the CPA is within an MSA or non-MSA with greater than or equal to 0.17% employment in the fossil fuel industry.

MSA_non_to: The code of the MSA or non-MSA area that contains the CPA.

P_Unemp: The percent unemployment of the MSA or non-MSA that contains the CPA in 2021.

Rates have been trending downward in Canada for the last five years. The ebbs and flows are caused by changes in Canada’s bond yields (driven by Canadians economic developments and international rate movements, particularly U.S. rate fluctuations) and the overnight rate (which is set by the Bank of Canada). As of August 2022, there has been a 225 bps increase in the prime rate, since beginning of year 2022, from 2.45% to 4.70% as of Aug 24th 2022. The following are the historical conventional mortgage rates offered by the 6 major chartered banks in Canada in the past 20 years.

The benchmark interest rate in Pakistan was last recorded at 11 percent. This dataset provides - Pakistan Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Bank Prime Loan Rate Changes: Historical Dates of Changes and Rates (PRIME) from 1955-08-04 to 2025-10-30 about prime, loans, interest rate, banks, depository institutions, interest, rate, and USA.

Graph and download economic data for 10-Year Treasury Constant Maturity Minus Federal Funds Rate (T10YFF) from 1962-01-02 to 2025-11-28 about yield curve, spread, 10-year, maturity, Treasury, federal, interest rate, interest, rate, and USA.