Track the current Federal Reserve interest rate, upcoming FOMC meetings, latest policy decisions, and historical rate changes
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Current Fed target range, latest policy decision and next FOMC meeting
Federal Funds Rate & FOMC Schedule
The Fed sets a target range for the federal funds rate. This differs from Treasury yields and the effective federal funds rate. Figures shown here are the latest verified official observations.
Federal Funds Target Range History
Policy range in force by date · percent
Hover anywhere on the chart, tap or drag sideways to inspect the nearest date. On smaller screens the full chart fits the display and the selected value appears below it; use the buttons to move one calendar month in the 1-year view or one calendar year in longer views. Tapping still selects an exact date. Mouse movement keeps updating after clicking. Arrow keys explore, Enter keeps a selection and Escape clears. Steps show effective rate changes. “All” starts December 16, 2008.
Recent FOMC Decisions Latest 12 published meetings
| Decision date | Target range | Change | Official source |
|---|---|---|---|
| Oct 28, 2026 | 3.75–4.00% | Unchanged | Statement ↗ |
| Sep 16, 2026 | 3.75–4.00% | +25 bps | Statement ↗ |
| Jul 29, 2026 | 3.50–3.75% | Unchanged | Statement ↗ |
| Jun 17, 2026 | 3.50–3.75% | Unchanged | Statement ↗ |
| Apr 29, 2026 | 3.50–3.75% | Unchanged | Statement ↗ |
| Mar 18, 2026 | 3.50–3.75% | Unchanged | Statement ↗ |
| Jan 28, 2026 | 3.50–3.75% | Unchanged | Statement ↗ |
| Dec 10, 2025 | 3.50–3.75% | -25 bps | Statement ↗ |
| Oct 29, 2025 | 3.75–4.00% | -25 bps | Statement ↗ |
| Sep 17, 2025 | 4.00–4.25% | -25 bps | Statement ↗ |
| Jul 30, 2025 | 4.25–4.50% | Unchanged | Statement ↗ |
| Jun 18, 2025 | 4.25–4.50% | Unchanged | Statement ↗ |
Decision dates come from FOMC statements. Ranges and changes use the target range in force on the day after the statement, based on the Fed’s published effective change dates; the official table can lag a new decision. Unscheduled changes appear in the rate history even when absent from the scheduled calendar.
Upcoming FOMC Meetings
Official schedule| Meeting dates | Decision day | Economic projections |
|---|---|---|
| Dec 8, 2026 – Dec 9, 2026 | Dec 9, 2026 | Yes |
| Jan 26, 2027 – Jan 27, 2027 | Jan 27, 2027 | No |
| Mar 16, 2027 – Mar 17, 2027 | Mar 17, 2027 | Yes |
| Apr 27, 2027 – Apr 28, 2027 | Apr 28, 2027 | No |
| Jun 8, 2027 – Jun 9, 2027 | Jun 9, 2027 | Yes |
| Jul 27, 2027 – Jul 28, 2027 | Jul 28, 2027 | No |
| Sep 14, 2027 – Sep 15, 2027 | Sep 15, 2027 | Yes |
| Oct 26, 2027 – Oct 27, 2027 | Oct 27, 2027 | No |
Calendar verified: Nov 3, 2026 · 12:54 CET. Future meeting dates are tentative until confirmed by the FOMC.
Methodology & Sources
Target range and effective change dates: Federal Reserve Board — Open Market Operations. Daily chart points carry the published policy range forward until the next effective change; they are not separate market transactions or interpolated yields. Calendar and statement links: Federal Reserve FOMC calendar. These are policy facts, not probabilities or forecasts. Independent Silver Dominion tool, not affiliated with, endorsed or certified by the Federal Reserve. Source information is used under the Board’s public-domain information policy; no official logos or third-party content are reproduced.
Shared server updates check sources twice daily, with 15-minute checks during 13:00–18:59 New York time on scheduled decision days. WP-Cron runs when the site receives traffic; an external cron can improve punctuality. Rate history and calendar retain independent verification timestamps and last-good snapshots. No visitor triggers an external refresh. The countdown uses the usual 14:00 New York announcement time, including daylight saving time; extraordinary announcements can occur at other times.
Fed Interest Rates, FOMC Decisions and Market Impact
The Federal Reserve’s interest rate decisions influence borrowing costs, financial conditions and investment markets around the world. Changes in monetary policy can affect Treasury yields, the U.S. dollar, inflation expectations and the performance of precious metals.
Our Fed Interest Rate & FOMC Tracker provides a clear overview of the current federal funds target range, recent interest rate decisions, upcoming FOMC meetings and historical rate changes. Investors can follow how U.S. monetary policy develops and compare current conditions with previous periods.
The Fed does not make its decisions in isolation. Inflation reports, employment figures and economic growth all influence the policy outlook. Our Economic Calendar helps investors follow the major releases that can shift expectations ahead of each meeting.
Interest rate decisions also influence the bond market. The U.S. Treasury Yields Tracker shows how government bond yields evolve, while the U.S. Real Yields Tracker provides a view of inflation-adjusted returns.
For gold and silver investors, these developments are particularly relevant. Higher real interest rates can increase the opportunity cost of holding gold, while lower yields may provide support. However, precious metals also respond to currency movements, investment demand and geopolitical uncertainty.
Monetary policy extends beyond interest rates. Changes in the Fed’s asset holdings can be explored through our Federal Reserve Balance Sheet Tracker, while the U.S. M2 Money Supply Tracker offers additional context on monetary expansion and contraction.
Together, these indicators help investors understand the broader financial environment without relying on any single data point to predict market direction.
Frequently Asked Questions
What Is the Current Fed Interest Rate?
The Federal Reserve sets a target range for the federal funds rate, which influences short-term borrowing costs throughout the U.S. economy. The current target range is displayed in our Fed Interest Rate & FOMC Tracker using official Federal Reserve data.
When Is the Next FOMC Meeting?
The Federal Open Market Committee normally holds eight scheduled meetings each year, although additional meetings can take place when necessary. The next scheduled meeting date is available in our tracker and the official Federal Reserve calendar.
How Often Does the Federal Reserve Change Interest Rates?
There is no fixed schedule for interest rate changes. The FOMC evaluates inflation, employment, economic activity and financial conditions before deciding whether to raise, lower or maintain its target range. Rates can remain unchanged across several meetings.
What Does a 25 Basis Point Fed Rate Change Mean?
One basis point equals 0.01 percentage points. A 25 basis point change therefore represents a movement of 0.25 percentage points. For example, an increase from 4.00% to 4.25% equals 25 basis points.
How Do Fed Interest Rates Affect Gold and Silver Prices?
Federal Reserve policy influences Treasury yields, the U.S. dollar and financial market expectations. Higher real interest rates can increase the opportunity cost of holding gold, while lower real yields may provide support. Silver also responds to industrial demand, economic growth and physical market conditions.
Does a Fed Rate Cut Always Make Gold Prices Rise?
No. Gold prices respond not only to the rate decision itself but also to market expectations, real yields, currency movements and broader economic conditions. If investors have already anticipated a rate cut, much of its potential impact may be reflected in prices before the announcement.
Where Does the Fed Interest Rate Tracker Get Its Data?
The tracker uses official Federal Reserve publications, including federal funds target rate information, FOMC statements and the published meeting calendar. Reporting dates are distinguished from data retrieval times because official updates follow their own publication schedules. Official source: Federal Reserve FOMC Calendar .