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The effective federal funds rate over time, through December 2023. This is a list of historical rate actions by the United States Federal Open Market Committee (FOMC). The FOMC controls the supply of credit to banks and the sale of treasury securities. The Federal Open Market Committee meets every two months during the fiscal year.
After an eight-month recession beginning in August 1990, Greenspan and Co. managed to take the fed funds rate all the way up to a target level of 6.5 percent in May 2000, the highest of the period.
Following its meeting on that date, the FOMC cut the rate by 0.50%, from 5.25% to 5.50%. ... Later that month, the Fed reduced the federal funds rate by 0.25%. An additional reduction in October ...
The daily effective federal funds rate is a weighted average of rates on brokered trades. Weekly figures are averages of 7 calendar days ending on Wednesday of the current week; monthly figures include each calendar day in the month.
FRASER (The Federal Reserve Archival System for Economic Research) is a digital archive begun in 2004 to safeguard, preserve and provide easy access to the United States’ economic history—particularly the history of the Federal Reserve System—through digitization of documents related to the U.S. financial system. [6]
12-month (1 year) CD. 1.83%. 1.84%. Down 1 basis point. 24-month (2 year) CD ... It's widely expected that the Federal Reserve will announce a third cut this year to the federal funds rate at its ...
The federal funds target range is determined by a meeting of the members of the Federal Open Market Committee (FOMC) which normally occurs eight times a year about seven weeks apart. The committee may also hold additional meetings and implement target rate changes outside of its normal schedule.
As the Federal Reserve cut its federal funds rate, ... Date. Target Fed funds rate. 30-year mortgage average fixed rate. ... you can invest $500 a month, and when the market is up, that investment ...