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Fed interest rate history of 2001-2010: Fed faces the dotcom bust, the 9/11 terrorist attacks and the 2008 financial crisis Rate cuts 2001-2003. Meeting date. Rate change. Target.
Federal funds rate
The average 30-year fixed-rate mortgage was 3.28 percent when the Fed officially signaled in its December 2021 dot plot that it planned to raise interest rates in the upcoming year.
The housing market could benefit from a Fed rate cut, which is all but certain to happen when policymakers meet on Sept. 17 and 18. “Fed interest rate cuts in general will bring about lower ...
The effective federal funds rate over time, through December 2023. This is a list of historical rate actions by the United States Federal Open Market Committee (FOMC). The FOMC controls the supply of credit to banks and the sale of treasury securities.
U.S. prime rate
As of Aug. 9, the FOMC’s target federal funds rate range is 5.25% to 5.50%. The effective federal funds rate at which banks make overnight loans is 5.33%.
At the conclusion of its fifth rate-setting policy meeting of 2024 on July 31, 2024, the Federal Reserve left the federal funds target interest rate at a 23-year high of 5.25% to 5.50% for an ...