7/11/23, 8:06 PM
United States Fed Funds Rate - 2023 Data - 1971-2022 Historical - 2024 Forecast
United States Fed Funds Rate
Summary
Calendar
Forecast
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()
Almost all FOMC participants judged it appropriate to leave the fed funds rate steady in June, as
it would allow them more time to assess the economy's progress toward maximum employment
and price stability, minutes from the FOMC meeting in June 2023 showed. However, some
favored raising rates by 25bps. Still, all officials continued to anticipate that, with inflation still well
above 2% goal and the labor market remaining very tight, maintaining a restrictive stance for
monetary policy would be appropriate, and almost all considered appropriate to raise borrowing
costs again this year. Many also noted that a further moderation in the pace of policy firming was
appropriate in order to provide additional time to observe the effects of cumulative tightening and
assess their implications for policy. The Fed left the target for the funds rate unchanged at
5%-5.25% in June. After the FOMC decision, Fed Chair has reinforced several times the need to
raise rates further this year. source: Federal Reserve (http://www.federalreserve.gov/)

1Y
5Y
10Y
Calendar
GMT
2023-06-14
06:00 PM
2023-06-14
06:00 PM
MAX



Actual
Previous
Interest Rate Projection
- Longer
2.5%
2.5%
Interest Rate Projection
- Current
5.6%
5.1%
https://tradingeconomics.com/united-states/interest-rate
Consensus
TEForecast
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7/11/23, 8:06 PM
United States Fed Funds Rate - 2023 Data - 1971-2022 Historical - 2024 Forecast
Calendar
GMT
2023-06-14
06:00 PM
Interest Rate Projection
Summary
2023-07-12
Calendar
06:00
PM
Forecast
Stats
Fed
Beige Book
2023-07-26
06:00 PM
Fed Interest Rate
Decision
2023-09-06
06:00 PM
Fed Beige Book
United States Fed Funds
Rate
- 2nd Yr
+
Actual
Previous
3.4%
3.1%
Alerts
Download
Consensus
TEForecast
()
5.25%
5.5%
(/calendar)
Related
Last
Previous
Unemployment Rate (/united-states/unemployment-rate)
3.60
3.70
Interest Rate (/united-states/interest-rate)
5.25
5.25
Inflation Rate (/united-states/inflation-cpi)
4.00
4.90
Money Supply M1 (/united-states/money-supply-m1)
18629.20
18942.80
Money Supply M0 (/united-states/money-supply-m0)
5592600.00
5571000.00
Money Supply M2 (/united-states/money-supply-m2)
20673.10
20818.10
Central Bank Balance Sheet (/united-states/central-bank-balance-sheet)
8298312.00
8340914.00
Banks Balance Sheet (/united-states/banks-balance-sheet)
22852.50
22847.60
Foreign Exchange Reserves (/united-states/foreign-exchange-reserves)
37628.00
37566.00
Loans to Private Sector (/united-states/loans-to-private-sector)
2762.08
2774.26
Repo Rate (/united-states/repo-rate)
5.14
5.14
+
(/united-states/indicators)
United States Fed Funds Rate
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7/11/23, 8:06 PM
United States Fed Funds Rate - 2023 Data - 1971-2022 Historical - 2024 Forecast
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
United
Funds
Rate
regionalStates
FederalFed
Reserve
Banks.
The FOMC decides on open market operations, including the
desired levels of central bank money or the desired federal funds market rate.
Summary
Calendar
Forecast
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Actual
Previous
Highest
Lowest
Dates
Unit
Frequency
5.25
5.25
20.00
0.25
1971 - 2023
percent
Daily
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News Stream
Fed Likely to Raise Rates Further this Year
Almost all FOMC participants judged it appropriate to leave the fed funds rate steady in June, as it
would allow them more time to assess the economy's progress toward maximum employment and
price stability, minutes from the latest meeting showed. Still, some members favored raising rates
by 25bps. ... more ()
2023-07-05
Fed to Deliver Two More Rate Hikes at Least
A strong majority of policymakers expect two or more rate hikes by the end of the year as the
process of getting inflation back down to 2% has a long way to go, Fed Chair Powell reinforced at
the Banco de Espana Fourth Conference on Financial Stability. Since early last year, the Fed has
raised the ... more ()
2023-06-29
Fed Chair Powell Reiterates the Need for Further Rate Hikes
Fed Chair Powell said at the ECB Forum on Central Banking that more restriction is coming and
that interest rates will need to rise again this year, seeing two more rate hikes, at least. At the
same time, Powell added that he wouldn’t take consecutive-meeting rate hikes off the table. Also,
Fed Chai... more ()
2023-06-28
+
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United States Fed Funds Rate - 2023 Data - 1971-2022 Historical - 2024 Forecast
Dollar Weakens to 2-Month Low (/united-states/currency)
US Consumer Credit Misses Forecasts, Lowest Since 2020 (/united-states/consumer-credit)
US Inflation
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3rd Month (/united-states/inflation-expectations)
United
States
Fed Funds
Rate
US Wholesale Inventories Flat in May (/united-states/wholesale-inventories)
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Used Car Prices
in the USForecast
Fall at Record
Pace Alerts
for June (/united-states/used-car-prices-mom)
Treasury Yields Little Changed Ahead of Inflation (/united-states/government-bond-yield)
Week Ahead - July 10th (/calendar?article=29207&g=top&importance=2&startdate=2023-07-07)
+
(news)
Latest
Americans Become More Pessimistic in July (/united-states/economic-optimism-index)
Brazilian Equities Plunge on Tuesday (/brazil/stock-market)
Baltic Exchange Dry Index Rises for 3rd Day (/commodity/baltic)
Canadian Stocks Edge Up Ahead BoC Meeting (/canada/stock-market)
US Stocks Attempt to Gain for 2nd Day (/united-states/stock-market)
Belarus Inflation Eases Further (/belarus/inflation-cpi)
Russia Current Account Shrinks Sharply in Q2 (/russia/current-account)
Brazilian Inflation Drops to Near 3-Year Low of 3.2% (/brazil/inflation-cpi)
South Africa Manufacturing Output Rises More than Expected (/south-africa/industrial-production)
Latvia Trade Deficit Narrows in May (/latvia/balance-of-trade)
+
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United States Fed Funds Rate - 2023 Data - 1971-2022 Historical - 2024 Forecast
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Banks Balance Sheet (/United-States/BanksBalance-Sheet)
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