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MONTHLY · FRED · Board of Governors

Fed target rate

4 % +0.25 pts month

The range the Federal Reserve sets for overnight lending between US banks. Every dollar borrowing cost is priced off it, from mortgages and Treasury yields to the debts of governments and companies far outside the United States.

Sep 2026 · 4.00 % · −1.00 pts vs the window’s open

FRED · Board of Governors · monthly
the numbers24
whenvaluechange
Oct 2024high5.00 %
Nov 20244.75 %−0.25 pts
Dec 20244.50 %−0.25 pts
Jan 20254.50 %0 pts
Feb 20254.50 %0 pts
Mar 20254.50 %0 pts
Apr 20254.50 %0 pts
May 20254.50 %0 pts
Jun 20254.50 %0 pts
Jul 20254.50 %0 pts
Aug 20254.50 %0 pts
Sep 20254.25 %−0.25 pts
Oct 20254.00 %−0.25 pts
Nov 20254.00 %0 pts
Dec 2025low3.75 %−0.25 pts
Jan 20263.75 %0 pts
Feb 20263.75 %0 pts
Mar 20263.75 %0 pts
Apr 20263.75 %0 pts
May 20263.75 %0 pts
Jun 20263.75 %0 pts
Jul 20263.75 %0 pts
Aug 20263.75 %0 pts
Sep 2026latest4.00 %+0.25 pts

Lately

Inflation has run above the Fed's target for 5.5 years, and most Federal Reserve officials now expect another hike by year-end, a stance that earned Warsh praise from the IMF. Traders put 80% odds on a December move as 30-year Treasury yields reached their highest since 2002. Trump convened a panel on removing governor Lisa Cook.

  1. Fed Split Over Hikes
  2. IMF Praises Fed Chair
  3. Gold Slides Despite War
  4. Long Bond Yields Surge
  5. Trump Convenes Cook Removal Panel

Mentioned in · 15

  1. Nobel Rewards Shock-Management Models The New York Times
  2. IMF Meets Under Energy Shock Al Jazeera Online
  3. Trump Convenes Cook Removal Panel Reuters
  4. Bessent Hires Judy Shelton Reuters
  5. Gold Slides Despite War Reuters
  6. Fed Split Over Hikes Reuters
  7. IMF Praises Fed Chair TASS
  8. Long Bond Yields Surge Bloomberg Business
  9. Fed Overhauls Bank Supervision Reuters
  10. Fed Reviews Bank Private Credit semafor.com
  11. Treasury Runs Out Options Reuters
  12. Justice Department Drops Powell Probe Financial Times News
  13. Hiring Stalls, Fed Hesitates Reuters
  14. Japan Bond Yields Climb Financial Times News
  15. Fed Watchdog Clears Powell The New York Times