Data Source:

Past Meetings

Rate Description Date Previous % Change % Rate % Statement Minutes
Federal Funds Target Range - Upper Limit Wed 18 Dec 2024 4.75 0.25 4.50
Federal Funds Target Range - Lower Limit Wed 18 Dec 2024 4.50 0.25 4.25
Federal Funds Target Range - Upper Limit Thu 07 Nov 2024 5.00 0.25 4.75
Federal Funds Target Range - Lower Limit Thu 07 Nov 2024 4.75 0.25 4.50
Federal Funds Target Range - Upper Limit Wed 18 Sep 2024 5.50 0.50 5.00
Federal Funds Target Range - Lower Limit Wed 18 Sep 2024 5.25 0.50 4.75
Federal Funds Target Range - Upper Limit Wed 31 Jul 2024 5.50 0.00 5.50
Federal Funds Target Range - Lower Limit Wed 31 Jul 2024 5.25 0.00 5.25
Federal Funds Target Range - Upper Limit Wed 12 Jun 2024 5.50 0.00 5.50
Federal Funds Target Range - Lower Limit Wed 12 Jun 2024 5.25 0.00 5.25
Federal Funds Target Range - Upper Limit Wed 01 May 2024 5.50 0.00 5.50
Federal Funds Target Range - Lower Limit Wed 01 May 2024 5.25 0.00 5.25
Federal Funds Target Range - Upper Limit Wed 20 Mar 2024 5.50 0.00 5.50

Upcoming Meetings

Date Time
Wed 29 Jan 2025 02:00 PM Washington time
Name Description Rate
Flavio Serrano Federal Funds Target Range - Upper Limit 4.25 %
Flavio Serrano Federal Funds Target Range - Lower Limit 4.00 %
Date Time
Wed 19 Mar 2025 02:00 PM Washington time
Date Time
Wed 07 May 2025 02:00 PM Washington time
Date Time
Wed 18 Jun 2025 02:00 PM Washington time
Date Time
Wed 30 Jul 2025 02:00 PM Washington time
Date Time
Wed 17 Sep 2025 02:00 PM Washington time
Date Time
Wed 29 Oct 2025 02:00 PM Washington time
Date Time
Wed 10 Dec 2025 02:00 PM Washington time
Date Time
Tue 27 Jan 2026 02:00 PM Washington time
Date Time
Wed 18 Mar 2026 02:00 PM Washington time
Date Time
Wed 29 Apr 2026 02:00 PM Washington time
Date Time
Wed 17 Jun 2026 02:00 PM Washington time
Date Time
Wed 29 Jul 2026 02:00 PM Washington time

News

Federal Reserve Board announces the designation of the Chairs and Deputy Chairs of the 12 Federal Reserve Banks for 2025
FRB: Press Release - All Releases -

13/01/2025 15:00:00

Federal Reserve Board announces the designation of the Chairs and Deputy Chairs of the 12 Federal Reserve Banks for 2025
Federal Reserve Board announces approval of application by UMB Financial Corporation
FRB: Press Release - All Releases -

10/01/2025 19:00:00

Federal Reserve Board announces approval of application by UMB Financial Corporation
Business Formation Statistics
Total U.S. Business Applications were 457,544 in December 2024, up 1.5% from November 2024.


December 2024: +1.5° % Change
November 2024 (r): +5.7° % Change

Bowman, Reflections on 2024: Monetary Policy, Economic Performance, and Lessons for Banking Regulation
FRB: Speeches -

09/01/2025 18:35:00

Speech At the California Bankers Association 2025 Bank Presidents Seminar, Laguna Beach, California
Research Recommendations: Inputs for the 2030 Census Operational Plan
Random Samplings -

08/01/2025 21:31:02

Building on lessons learned from 2020 and prior censuses and incorporating valuable input, we have now finished the Design Selection Phase.
Minutes of the Federal Open Market Committee, December 17-18, 2024
FRB: Press Release - All Releases -

08/01/2025 19:00:00

Minutes of the Federal Open Market Committee, December 17-18, 2024
Minutes of the Federal Open Market Committee, December 17-18, 2024
FRB: Press Release - Monetary Policy -

08/01/2025 19:00:00

Minutes of the Federal Open Market Committee, December 17-18, 2024
Improved Method Better Estimates Net International Migration Increase
Random Samplings -

08/01/2025 16:38:09

Combining administrative data with survey data made net international migration estimates more responsive to short-term fluctuations in immigration.
Census Bureau Economists to Present at AEA and ASSA Annual Meetings
Research Matters -

08/01/2025 16:38:08

U.S. Census Bureau economists and social scientists are set to present their research findings at the annual meeting of the AEA and ASSA.
Monthly Wholesale Trade: Sales and Inventories
November 2024 sales of merchant wholesalers were $678.0 billion, up 0.6 percent (+/- 0.4 percent) from last month. End-of-month inventories were $901.6 billion, down 0.2 percent (+/- 0.4 percent)* from last month.


November 2024: -0.2* % Change in Inventories
October 2024 (r): 0.0* % Change in Inventories

Waller, Challenges Facing Central Bankers
FRB: Speeches -

08/01/2025 13:00:00

Speech At Lectures of the Governor, Organization for Economic Cooperation and Development, Paris, France
U.S. International Trade in Goods and Services
The nation's international trade deficit in goods and services increased to $78.2 billion in November from $73.6 billion in October (revised), as imports increased more than exports.


November 2024: 6.2° % Change
October 2024 (r): -12.1° % Change

FEDS Paper: Nonparametric Time Varying IV-SVARs: Estimation and Inference
FRB: Working Papers -

06/01/2025 18:45:00

Robin Braun, George Kapetanios, Massimiliano Marcellino

This paper studies the estimation and inference of time-varying impulse response functions in structural vector autoregressions (SVARs) identified with external instruments. Building on kernel estimators that allow for nonparametric time variation, we derive the asymptotic distributions of the relevant quantities. Our estimators are simple and computationally trivial and allow for potentially weak instruments. Simulations suggest satisfactory empirical coverage even in relatively small samples as long as the underlying parameter instabilities are sufficiently smooth. We illustrate the methods by studying the time-varying effects of global oil supply news shocks on US industrial production.

Forecasters

Forecaster
Score
Parul Jain, MacroFin Analytics & Rutgers Business School
37.50
Joel Naroff
31.25
Leo Feler
12.50
John Dunham
6.25
Washington__Federal_Reserve.jpg
Stefan Fussan, CC BY-SA 3.0 DE, via Wikimedia Commons

The Federal Reserve Bank: Navigating the Heartbeat of the U.S. Economy

The Federal Reserve Bank, often referred to as the "Fed," stands as a cornerstone of the United States' economic infrastructure. Established over a century ago, the Fed plays a central role in shaping monetary policy, maintaining financial stability, and fostering economic growth. Let's delve into the workings and significance of the Federal Reserve Bank in the intricate tapestry of the U.S. economy.

The Birth of the Fed

The Federal Reserve System was established in 1913 in response to financial panics and banking crises that had plagued the nation's history. The primary purpose of its creation was to provide a more stable and secure financial system, reduce the frequency of bank runs, and ensure an elastic currency supply. The Fed was envisioned as a unique blend of public and private entities, with regional Reserve Banks operating under the guidance of a centralized Board of Governors in Washington, D.C.

Maintaining Monetary Policy

One of the Fed's most critical responsibilities is the formulation and execution of monetary policy. Through tools such as open market operations, discount rates, and reserve requirements, the Fed influences the money supply and interest rates. This influence, in turn, impacts borrowing costs, spending, investment, and overall economic activity. The Fed's aim is to strike a delicate balance between controlling inflation and promoting employment and economic growth.

Banking Supervision and Financial Stability

The Federal Reserve also plays a crucial role in ensuring the safety and soundness of the nation's banking system. It conducts regular examinations and assessments of banks and financial institutions, aiming to prevent excessive risk-taking and maintain the stability of the financial sector. Additionally, the Fed collaborates with other regulatory bodies to create a robust framework that safeguards against systemic risks and crises.

Emergency Lending and Crisis Management

In times of financial turmoil, the Fed acts as a lender of last resort, providing liquidity and stability to financial markets. During the 2008 financial crisis, for example, the Fed implemented unprecedented measures to prevent a complete collapse of the banking system. These actions included providing emergency loans and implementing quantitative easing to stimulate the economy.

Transparency and Accountability

The Federal Reserve Bank operates within a framework of transparency and accountability. While its decisions are largely autonomous, the Fed communicates its policies, actions, and economic projections to the public. Regular press conferences, meetings, and publications provide insight into the Fed's rationale and approach to monetary policy, allowing markets and the public to make informed decisions.

In a nutshell

The Federal Reserve Bank stands as a pillar of the U.S. economy, serving as the guardian of monetary stability, financial security, and economic prosperity. Through its intricate mechanisms and dedicated efforts, the Fed plays a pivotal role in steering the nation's economic course, responding to challenges, and nurturing growth. As the economic landscape continues to evolve, the Federal Reserve's mission remains unwavering—to safeguard the nation's financial well-being and ensure a stable and prosperous future for all.

As we navigate the currents of economic change, the Federal Reserve Bank's enduring commitment to its mandate remains a guiding light, providing reassurance and stability in an ever-fluctuating financial world.

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