United States Interest Rates

Last ReleaseJan 28, 2026

Previous3.75

FrequencyDaily

Next ReleaseMar 18, 2026

Time to Release0

Units In%

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

Fed officials are divided over the future path of interest rates, reflecting a tension between the need to contain inflation and the desire to support the labor market, according to the minutes of the January 2026 FOMC meeting. Several participants indicated that further reductions in the fed funds rate would likely be appropriate if inflation continues to decline in line with their expectations. Others argued that it may be prudent to hold the policy rate steady for some time and some even raised the possibility that rate increases could become necessary if inflation remains persistently above target. In addition, a vast majority of participants judged that downside risks to employment had moderated in recent months while the risk of more persistent inflation remained. The Fed left the federal funds rate unchanged at the 3.5%–3.75% target range in its January 2026 meeting, in line with expectations, after three consecutive rate cuts last year.

Historical Data

Highest	Lowest	Average	Date Range	Source
20	0.25	5.4 %	1971-2026	Federal Reserve