Last updated: unknown

Fed Funds Rate Tracker

Federal Reserve interest rate decisions, target range & real rate monitor. Sourced from FRED. Updated daily.

Last updated: unknown
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Current Target Range
3.5% – 3.75%
Effective Rate
3.64%
CPI YoY
2.4%
Real Rate
+1.24%
As of
2026-02-12
All-Time High
7.03%
All-Time Low
0.04%
Total Hikes
20
Total Cuts
11

Fed Funds Rate Over Time

Effective Rate Target Range

Fed Funds Rate vs. Inflation (CPI YoY)

Fed Funds Rate CPI YoY Inflation

Real Fed Funds Rate (Rate − Inflation)

Real Rate Zero line
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Rate Change Timeline

Recent Fed target rate adjustments

DateActionChangeNew Target
2025-12-11⬇ CUT-25 bps3.5% – 3.75%
2025-10-30⬇ CUT-25 bps3.75% – 4%
2025-09-18⬇ CUT-25 bps4% – 4.25%
2024-12-19⬇ CUT-25 bps4.25% – 4.5%
2024-11-08⬇ CUT-25 bps4.5% – 4.75%
2024-09-19⬇ CUT-50 bps4.75% – 5%
2023-07-27⬆ HIKE+25 bps5.25% – 5.5%
2023-05-04⬆ HIKE+25 bps5% – 5.25%
2023-03-23⬆ HIKE+25 bps4.75% – 5%
2023-02-02⬆ HIKE+25 bps4.5% – 4.75%
2022-12-15⬆ HIKE+50 bps4.25% – 4.5%
2022-11-03⬆ HIKE+75 bps3.75% – 4%
2022-09-22⬆ HIKE+75 bps3% – 3.25%
2022-07-28⬆ HIKE+75 bps2.25% – 2.5%
2022-06-16⬆ HIKE+75 bps1.5% – 1.75%
2022-05-05⬆ HIKE+50 bps0.75% – 1%
2022-03-17⬆ HIKE+25 bps0.25% – 0.5%
2020-03-16⬇ CUT-100 bps0% – 0.25%
2020-03-04⬇ CUT-50 bps1% – 1.25%
2019-10-31⬇ CUT-25 bps1.5% – 1.75%
2019-09-19⬇ CUT-25 bps1.75% – 2%
2019-08-01⬇ CUT-25 bps2% – 2.25%
2018-12-20⬆ HIKE+25 bps2.25% – 2.5%
2018-09-27⬆ HIKE+25 bps2% – 2.25%
2018-06-14⬆ HIKE+25 bps1.75% – 2%
2018-03-22⬆ HIKE+25 bps1.5% – 1.75%
2017-12-14⬆ HIKE+25 bps1.25% – 1.5%
2017-06-15⬆ HIKE+25 bps1% – 1.25%
2017-03-16⬆ HIKE+25 bps0.75% – 1%
2016-12-14⬆ HIKE+25 bps0.5% – 0.75%