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Federal funds rate

Current and historic interest rate of the US Central Bank

Below is a table showing the recent interest rate development of the federal funds rate of the US Central Bank (Fed). This rate is often referred to when it comes to "US interest".

View interest rates from other central banks

Latest interest rate changes
Modification date Interest
15-03-2020 0.25%
03-03-2020 1.25%
30-10-2019 1.75%
18-09-2019 2.00%
31-07-2019 2.25%
19-12-2018 2.50%
26-09-2018 2.25%
13-06-2018 2.00%
21-03-2018 1.75%
13-12-2017 1.50%

The above table is updated with every interest rate change by the US central bank.

Graph showing historical US interest rates

The graph above shows the historical development of the refinancing rate of the US central bank.

What is the Fed and how does the Fed work?

The American central bank is known by the abbreviation Fed . Fed stands for The Federal Reserve System or The Federal Reserve for short. As the central bank, the Fed is responsible for monetary policy in the United States of America. This means, among other things, that the Fed tries to keep US inflation within certain limits. An important tool for the Fed to influence the economy and inflation is by influencing the federal funds rate or the Fed base rate.

Unlike the ECB 's refinancing rate , the Fed does not set the key rate itself. So the Fed itself does not implement direct rate cuts or rate hikes. However, the Fed has some monetary means to influence the money supply at banks. This means that the Fed can also indirectly exert a strong influence on the base rate.