United States Fed Funds Rate

The Federal Reserve reiterated it was committed to using its full range of tools to support the US economy, as the uncertainty surrounding the economic outlook remained elevated, minutes of the December 15-16 policy meeting showed. Also, policymakers sought to reassure market participants they would get plenty of notice before the asset purchases were curtailed. Fed members agreed that the path of the economy would depend significantly on the course of the virus and that the ongoing public health crisis would continue to weigh on economic activity, employment, and inflation in the near term. In addition, the central bank noted that, with the pandemic worsening across the country, the economic recovery would likely slow in coming months. Interest Rate in the United States averaged 5.55 percent from 1971 until 2020, reaching an all time high of 20 percent in March of 1980 and a record low of 0.25 percent in December of 2008. In the United States, the authority to set interest rates is divided between the Board of Governors of the Federal Reserve (Board) and the Federal Open Market Committee (FOMC). The Board decides on changes in discount rates after recommendations submitted by one or more of the regional Federal Reserve Banks. The FOMC decides on open market operations, including the desired levels of central bank money or the desired federal funds market rate. 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.

SOURCE: 🇺🇸 United States