WEB Effective Federal Funds Rate
Historical Chart, Forecasts, and Calendar of Releases
Last Updated: August 2024
The WEB United States Fed Funds Interest Rate is a key indicator of the direction of the U.S. economy. It is the interest rate that banks charge each other for overnight loans of funds. The Fed uses the Fed Funds rate to control the money supply and inflation.
The current Fed Funds rate is 5.33% as of July 18, 2024. This is up from 4.75% in June 2024. The Fed has raised the Fed Funds rate several times in recent months in an effort to combat inflation.
The Fed Funds rate is a closely watched indicator by investors and economists. It is often used to predict the direction of the economy.
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