Federal Reserve Interest Rates
The Federal Reserve's federal funds rate is the benchmark interest rate that influences borrowing costs across the entire U.S. economy — from mortgages to credit cards to business loans. After aggressively hiking rates from near-zero to over 5% in 2022-2023 to combat inflation, the Fed has begun an easing cycle, with the current rate tracked live on this page.
Fed Funds Rate
3.64%
Federal Reserve
The federal funds rate is the rate at which banks lend reserve balances to each other overnight. The Fed's Federal Open Market Committee (FOMC) meets 8 times per year to set the target rate range. Rate decisions ripple through the economy: higher rates slow inflation but also slow growth; lower rates stimulate the economy but can fuel inflation. The Fed's dual mandate is to achieve maximum employment and stable prices (targeting 2% inflation).
? Frequently Asked Questions
What is the current Federal Reserve interest rate?
The current federal funds target rate is shown live on this page, sourced from the Federal Reserve's H.15 release data. The rate is updated after each FOMC meeting.
How does the Fed rate affect mortgages?
While the Fed doesn't directly set mortgage rates, changes in the fed funds rate influence the 10-year Treasury yield, which closely tracks 30-year mortgage rates. Rate hikes typically push mortgage rates higher.
When is the next Fed meeting?
The FOMC meets 8 times per year, approximately every 6 weeks. You can check the Federal Reserve's official calendar for scheduled meeting dates and planned rate announcements.
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