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 benchmark interest rate in Japan was last recorded at 0.50 percent. This dataset provides - Japan Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

Dataset Description

This dataset contains the actual and predicted federal funds target rate for the United States from 1990 to 2023. The federal funds target rate is the interest rate at which depository institutions lend their excess reserves to each other overnight. It is set by the Federal Open Market Committee (FOMC) and is a key tool used by the Federal Reserve to influence the economy.

The dataset includes the following five columns:

Release Date: The date on which the data was released by the Federal Reserve. Time: The time of day at which the data was released. Actual: The actual federal funds target rate. Predicted: The predicted federal funds target rate. Forecast: The forecast federal funds target rate.

Data Usage

This dataset can be used for a variety of purposes, including: - Analyzing trends in the federal funds target rate over time. - Forecasting the future path of the federal funds target rate. - Assessing the effectiveness of monetary policy. - Data Quality

The data for this dataset is of high quality. The Federal Reserve is a reputable source of data and the data is updated regularly.

Data Limitations

The data for this dataset is limited to the United States. Additionally, the data does not include information on the factors that influenced the Federal Open Market Committee's decision to set the federal funds target rate.

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

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 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.

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 Interest Rates, Discount Rate for United States (INTDSRUSM193N) from Jan 1950 to Aug 2021 about discount, interest rate, interest, rate, and USA.

The benchmark interest rate in Mexico was last recorded at 8 percent. This dataset provides - Mexico Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The benchmark interest rate in Russia was last recorded at 20 percent. This dataset provides the latest reported value for - Russia Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The benchmark interest rate in China was last recorded at 3 percent. This dataset provides the latest reported value for - China Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Effective Federal Funds Rate in the United States remained unchanged at 4.33 percent on Wednesday July 2. This dataset includes a chart with historical data for the United States Effective Federal Funds Rate.

United States Interest Rate Swaps: Mth Avg: 7 Year data was reported at 3.114 % pa in Nov 2018. This records a decrease from the previous number of 3.160 % pa for Oct 2018. United States Interest Rate Swaps: Mth Avg: 7 Year data is updated monthly, averaging 3.150 % pa from Jul 2000 (Median) to Nov 2018, with 221 observations. The data reached an all-time high of 7.199 % pa in Jul 2000 and a record low of 1.190 % pa in Nov 2012. United States Interest Rate Swaps: Mth Avg: 7 Year data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s United States – Table US.M014: Interest Rate: Swaps Rates.

United States Interest Rate Swaps: Mth Avg: 1 Year data was reported at 2.917 % pa in Nov 2018. This records an increase from the previous number of 2.850 % pa for Oct 2018. United States Interest Rate Swaps: Mth Avg: 1 Year data is updated monthly, averaging 1.409 % pa from Jul 2000 (Median) to Nov 2018, with 221 observations. The data reached an all-time high of 7.056 % pa in Jul 2000 and a record low of 0.260 % pa in May 2014. United States Interest Rate Swaps: Mth Avg: 1 Year data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s United States – Table US.M014: Interest Rate: Swaps Rates.

We use Bayesian methods to estimate changes in US post-war monetary policy in the Smets and Wouters model. We perform the estimations by allowing for a break in monetary policy at the time of Volcker's appointment as chairman. This enables us to capture changes in the monetary policy regime introduced by Volcker during the Volcker-Greenspan period. We find support for the assumption that monetary policy in the Volcker-Greenspan period performed optimally under commitment. Our estimation strategy allows us to estimate the preferences of the US Federal Reserve in the Volcker-Greenspan period, where the main objective of policy appears to be inflation, followed by interest rate stabilization, output growth and interest rate smoothing. We find that the Great Moderation of output growth is explained by a combination of two factors: the decrease in the volatility of the structural shocks and the improved monetary policy conduct. Inflation Stabilization, however, is mainly due to the change in monetary policy that took place at the beginning of Volcker's mandate.

The benchmark interest rate in Canada was last recorded at 2.75 percent. This dataset provides - Canada Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

United States Interest Rate Swaps: Mth Avg: 2 Year data was reported at 3.054 % pa in Oct 2018. This records an increase from the previous number of 2.939 % pa for Sep 2018. United States Interest Rate Swaps: Mth Avg: 2 Year data is updated monthly, averaging 1.806 % pa from Jul 2000 (Median) to Oct 2018, with 220 observations. The data reached an all-time high of 7.119 % pa in Jul 2000 and a record low of 0.374 % pa in Apr 2013. United States Interest Rate Swaps: Mth Avg: 2 Year data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s United States – Table US.M014: Interest Rate: Swaps Rates.

United States Interest Rate Swaps: Mth Avg: 3 Year data was reported at 3.075 % pa in Nov 2018. This records a decrease from the previous number of 3.112 % pa for Oct 2018. United States Interest Rate Swaps: Mth Avg: 3 Year data is updated monthly, averaging 2.227 % pa from Jul 2000 (Median) to Nov 2018, with 221 observations. The data reached an all-time high of 7.136 % pa in Jul 2000 and a record low of 0.460 % pa in Nov 2012. United States Interest Rate Swaps: Mth Avg: 3 Year data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s United States – Table US.M014: Interest Rate: Swaps Rates.

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