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United States Interest Rate

Last Release
Oct 29, 2025
Actual
4
Units In
%
Previous
4.25
Frequency
Daily
Next Release
Dec 10, 2025
Time to Release
1 Months 9 Days 18 Hours
Highest
Lowest
Average
Date Range
Source
20
Mar 1980
0.25
Dec 2008
5.41 %1971-2025Federal Reserve
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.

Latest Updates

The Federal Reserve lowered the federal funds rate by 25 bps to a target range of 3.75%–4.00% at its October 2025 meeting, in line with market expectations. The move followed a similar cut in September, bringing borrowing costs to their lowest level since 2022. The central bank decided to conclude the reduction of its aggregate securities holdings on December 1. Policymakers cited increasing downside risks to employment in recent months while inflation has moved up since earlier in the year and remains somewhat elevated. Governor Miran preferred to lower the target range for the federal funds rate by 50bps and Kansas City Fed President Schmid dissented in favor of holding rates steady. Investors have largely anticipated another 25bps reduction in December, consistent with the Fed’s September projections but during the regular press conference, Fed Chair Powell said that the December rate cut is not a foregone conclusion.

United States Interest Rate History

Last 12 readings

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