01
2008–2015
Zero-bound and QE era
The policy rate stayed near zero while large-scale asset purchases became a central easing tool.
US
BONDSTATS / FED
OFFICIAL-SOURCE ARCHIVE
United States · USD · MONETARY POLICY
Federal Reserve
Interest Rate History
The FOMC communicates a target range for the federal funds rate. BondStats charts the midpoint when a single numeric value is needed, while preserving the official range in the table and headline.
CURRENT PHASEPost-easing hold
LATEST RATE MOVE−25 bp · Dec 11, 2025
HISTORY LOW*0.13%
HISTORY HIGH*5.38%
LARGEST MOVE*-100 bp
01
Policy-rate path
*Statistics refer to the selected points displayed in this BondStats archive, not necessarily the bank’s all-time extremes.
Selected target changes and major transition points. Holds are omitted unless they mark the current state.18 displayed rate changes
02
Policy regime timeline
02
2015–2018
Gradual normalization
The Fed lifted rates in measured steps as the post-crisis expansion matured.
03
2019–2020
Cuts and pandemic emergency
Late-cycle cuts were followed by emergency easing back to the lower bound in March 2020.
04
2022–2023
Inflation tightening
The fastest hiking cycle in decades took the target range to 5.25–5.50%.
05
2024–2026
Easing, then hold
Cuts began in 2024 and continued through late 2025 before the FOMC moved into a holding phase.
04
Rate-change archive
Latest first · selected official changes and major transition points
| Date | Policy rate / target | Move | Context |
|---|---|---|---|
| 2026-07-29 | 3.50–3.75% | Hold | Latest verified hold |
| 2025-12-11 | 3.50–3.75% | -25 bp | Official rate change |
| 2025-10-30 | 3.75–4.00% | -25 bp | Official rate change |
| 2025-09-18 | 4.00–4.25% | -25 bp | Official rate change |
| 2024-12-19 | 4.25–4.50% | -25 bp | Official rate change |
| 2024-11-08 | 4.50–4.75% | -25 bp | Official rate change |
| 2024-09-19 | 4.75–5.00% | -50 bp | Official rate change |
| 2023-07-27 | 5.25–5.50% | +25 bp | Official rate change |
| 2023-05-04 | 5.00–5.25% | +25 bp | Official rate change |
| 2023-03-23 | 4.75–5.00% | +25 bp | Official rate change |
| 2023-02-02 | 4.50–4.75% | +25 bp | Official rate change |
| 2022-12-15 | 4.25–4.50% | +50 bp | Official rate change |
| 2022-11-03 | 3.75–4.00% | +75 bp | Official rate change |
| 2022-09-22 | 3.00–3.25% | +75 bp | Official rate change |
| 2022-07-28 | 2.25–2.50% | +75 bp | Official rate change |
| 2022-06-16 | 1.50–1.75% | +75 bp | Official rate change |
| 2022-05-05 | 0.75–1.00% | +50 bp | Official rate change |
| 2022-03-17 | 0.25–0.50% | +25 bp | Official rate change |
| 2020-03-16 | 0.00–0.25% | -100 bp | Emergency move to the effective lower bound |
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