The next Federal Reserve (Fed) interest rate decision is due on Wednesday, April 29, 2026, at 18:00 GMT.
The US Federal Reserve (Fed) announces its decisions regarding interest rates eight times a year during Federal Open Market Committee (FOMC) meetings., approximately every six weeks. These decisions will determine wether or not the central bank will raise (rate hike), lower (rate cut), or leave the current interest rate unchanged, with each outcome having different end goals and objectives.
What is the Fed interest rate?
The current federal funds rate target range is 3.50% – 3.75%. At its latest meeting on March 18, 2026, the FOMC held interest rates unchanged.
What date is the next Federal Reserve interest rate meeting?
The next Federal Reserve meeting is scheduled for April 28–29, 2026.
See below for the full list of 2026's scheduled FOMC meetings:
- January 27-28
- March 17-18*
- April 28-29
- June 16-17*
- July 28-29
- September 15-16*
- October 27-28
- December 8-9*
Meetings marked with * are associated with a Summary of Economic Projections.
Each meeting concludes with an announcement regarding the FOMC's decisions surrounding US interest rates, followed by a press conference held by the Federal Reserve Chair. These dates are confirmed by the Federal Reserve, however, each meeting date is tentative until confirmed at the meeting immediately preceding it.
What is the US interest rate right now?
The federal funds rate target range is currently set at 3.50% to 3.75%, where it was left unchanged at the Federal Reserve’s latest meeting on March 18, 2026, following a series of rate cuts in late 2025.
What is the effect when the Federal Reserve increases interest rates?
When the Federal Reserve raises interest rates (rate hike), borrowing becomes more expensive for consumers and businesses. This can slow consumer spending, business investment, and economic growth, while also strengthening the U.S. dollar and making exports less competitive.
Higher rates help control inflation but can weaken the housing market, increase debt burdens, and, if raised too aggressively, risk triggering a recession.
What happens when the Fed cuts interest rates?
When the Federal Reserve cuts interest rates (rate cut), borrowing becomes cheaper for consumer and businesses. This can encourage consumer spending, business investment, and economic growth, while also weakening USD and making exports more competitive.
Lower rates can boost the stock market and housing demand but may also lead to inflation, reduced savings returns, and asset bubbles if not managed carefully.
What time is the Fed rate decision?
The Federal Reserve’s next interest rate decision is scheduled for Wednesday, April 29, 2026, at 2:00 PM Eastern Time (ET), which corresponds to 6:00 PM Greenwich Mean Time (GMT).
Following the announcement, Fed Chair Jerome Powell will hold a press conference at 6:30 PM GMT to discuss the decision and provide insights into the Fed’s economic outlook.
Did the Fed change rates at its latest meeting?
No. On March 18, 2026, the Federal Reserve kept rates unchanged at 3.50% to 3.75%.
This followed earlier adjustments in 2025, as the Fed moved towards a more neutral policy stance.
When will the Fed lower interest rates?
The Fed began lowering rates in late 2025, however, the timing of any further cuts in 2026 will depend on how the economy evolves, especially regarding inflation and growth. The next opportunity for a policy change will be at the April 28–29, 2026 FOMC meeting.
How often does the Fed change interest rates?
The Federal Reserve does not change interest rates on a fixed schedule but rather adjusts them as needed based on economic conditions. The FOMC meets eight times per year to assess inflation, employment, and overall economic stability, and interest rate decisions are made during these meetings.
In some years, the Fed may leave rates unchanged, while in others, it may increase or decrease rates multiple times depending on economic trends.
For example, during high inflation periods, the Fed tends to raise rates to slow the economy, while during economic downturns, it cuts rates to stimulate growth. The frequency of rate changes varies based on economic data, financial stability, and the Fed’s monetary policy goals.
What is the US bank interest rate?
Federal Reserve (Fed) interest rate
- The target federal funds rate currently sits at 3.50% – 3.75% as of the March 17–18, 2026 FOMC meeting, where the Federal Reserve left rates unchanged.
- The effective federal funds rate (EFFR) (the actual overnight interest rate at which U.S. banks lend to each other) is currently around 3.64%, based on the most recent available data (March 2026).
- This rate reflects actual overnight market activity and may differ slightly from the Fed’s target federal funds rate range, which was most recently set at 3.50% – 3.75%.
Federal Funds Rate history (1990 - present)
See below for historical interest rate data, showing how the Federal Funds Rate has changed over time.
