Current Federal Funds Rate
What is the Federal Funds Rate?
The federal funds rate is the interest rate at which banks lend to each other overnight. It influences all other interest rates including mortgages, auto loans, and savings accounts.
Frequently Asked Questions
What is the current Fed interest rate?
The Federal Reserve sets the federal funds rate target range at each FOMC meeting, held approximately every 6 weeks.
When will the Fed cut rates?
The Fed cuts rates when it believes the economy needs stimulus or when inflation is under control. Rate decisions depend on employment data, inflation readings, and economic growth.