Fed target rate
3.75 %
+0.00% day
The interest rate the US Federal Reserve targets for overnight lending between banks. It is the base price of dollar credit, and mortgages, corporate borrowing and the value of the dollar itself are priced off it.
Aug 2026 · 3.75 % · −31.8% vs the window’s open
the numbers25
| when | value | change |
|---|---|---|
| Aug 2024high | 5.50 % | |
| Sep 2024 | 5.00 % | −9.1% |
| Oct 2024 | 5.00 % | 0.0% |
| Nov 2024 | 4.75 % | −5.0% |
| Dec 2024 | 4.50 % | −5.3% |
| Jan 2025 | 4.50 % | 0.0% |
| Feb 2025 | 4.50 % | 0.0% |
| Mar 2025 | 4.50 % | 0.0% |
| Apr 2025 | 4.50 % | 0.0% |
| May 2025 | 4.50 % | 0.0% |
| Jun 2025 | 4.50 % | 0.0% |
| Jul 2025 | 4.50 % | 0.0% |
| Aug 2025 | 4.50 % | 0.0% |
| Sep 2025 | 4.25 % | −5.6% |
| Oct 2025 | 4.00 % | −5.9% |
| Nov 2025 | 4.00 % | 0.0% |
| Dec 2025low | 3.75 % | −6.3% |
| Jan 2026 | 3.75 % | 0.0% |
| Feb 2026 | 3.75 % | 0.0% |
| Mar 2026 | 3.75 % | 0.0% |
| Apr 2026 | 3.75 % | 0.0% |
| May 2026 | 3.75 % | 0.0% |
| Jun 2026 | 3.75 % | 0.0% |
| Jul 2026 | 3.75 % | 0.0% |
| Aug 2026latest | 3.75 % | 0.0% |
Lately
The target has fallen from 5.5% in Aug 2024 to 3.75%, where it has sat since Dec 2025. The direction is now in question: Fed minutes released 19 August showed many officials said rate hikes may be needed, and markets trimmed rate hike bets as the dollar fell against the euro. Attention has shifted to Warsh's Jackson Hole speech.