About site: Financial Services/Loans - Intended Federal Funds Rate
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  About site: http://www.federalreserve.gov/fomc/fundsrate.htm

Title: Financial Services/Loans - Intended Federal Funds Rate Lists interest rate at which depository institutions lend balances at the Federal Reserve to other depository institutions.
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FRB: Monetary Policy, Open Market OperationsThe <b>Federal</b> <b>Reserve</b> Board eagle logo links to home pageOpen Market OperationsOpen market operations--purchases and sales of U.S. Treasury and federal agency securities--are the Federal Reserve's principal tool for implementing monetary policy. The short-term objective for open market operations is specified by the Federal Open Market Committee (FOMC). This objective can be a desired quantity of reserves or a desired price (the federal funds rate). The federal funds rate is the interest rate at which depository institutions lend balances at the Federal Reserve to other depository institutions overnight. The Federal Reserve's objective for open market operations has varied over the years. During the 1980s, the focus gradually shifted toward attaining a specified level of the federal funds rate, a process that was largely complete by the end of the decade. Beginning in 1994, the FOMC began announcing changes in its policy stance, and in 1995 it began to explicitly state its target level for the federal funds rate. Since February 2000, the statement issued by the FOMC shortly after each of its meetings usually has included the Committee's assessment of the risks to the attainment of its long-run goals of price stability and sustainable economic growth. For more information on open market operations, see the article in the Federal Reserve Bulletin (102 KB PDF). Intended federal funds rate Change and level, 1990 to present Change (basis points) Date Increase Decrease Level (percent) 2008 October 8 ... 50 1.5 April 30 ... 25 2.00 March 18 ... 75 2.25 January 30 ... 50 3.00 January 22 ... 75 3.50 2007 December 11 ... 25 4.25 October 31 ... 25 4.50 September 18 ... 50 4.75 2006 June 29 25 ... 5.25 May 10 25 ... 5.00 March 28 25 ... 4.75 January 31 25 ... 4.50 2005 December 13 25 ... 4.25 November 1 25 ... 4.00 September 20 25 ... 3.75 August 9 25 ... 3.50 June 30 25 ... 3.25 May 3 25 ... 3.00 March 22 25 ... 2.75 February 2 25 ... 2.50 2004 December 14 25 ... 2.25 November 10 25 ... 2.00 September 21 25 ... 1.75 August 10 25 ... 1.50 June 30 25 ... 1.25 2003   June 25 ... 25 1.00 2002   November 6 ... 50 1.25 2001   December 11 ... 25 1.75 November 6 ... 50 2.00 October 2 ... 50 2.50 September 17 ... 50 3.00 August 21 ... 25 3.50 June 27 ... 25 3.75 May 15 ... 50 4.00 April 18 ... 50 4.50 March 20 ... 50 5.00 January 31 ... 50 5.50 January 3 ... 50 6.00 2000       May 16 50 ... 6.50 March 21 25 ... 6.00 February 2 25 ... 5.75 1999       November 16 25 ... 5.50 August 24 25 ... 5.25 June 30 25 ... 5.00 1998       November 17 ... 25 4.75 October 15 ... 25 5.00 September 29 ... 25 5.25 1997       March 25 25 ... 5.50 1996       January 31 ... 25 5.25 1995       December 19 ... 25 5.50 July 6 ... 25 5.75 February 1 50 ... 6.00 1994       November 15 75 ... 5.50 August 16 50 ... 4.75 May 17 50 ... 4.25 April 18 25 ... 3.75 March 22 25 ... 3.50 February 4 25 ... 3.25 1992       September 4 ... 25 3.00 July 2 ... 50 3.25 April 9 ... 25 3.75 1991       December 20 ... 50 4.00 December 6 ... 25 4.50 November 6 ... 25 4.75 October 31 ... 25 5.00 September 13 ... 25 5.25 August 6 ... 25 5.50 April 30 ... 25 5.75 March 8 ... 25 6.00 February 1 ... 50 6.25 January 9 ... 25 6.75 1990       December 18 ... 25 7.00 December 7 ... 25 7.25 November 13 ... 25 7.50 October 29 ... 25 7.75 July 13 ... 25 8.00 A basis point is 1/100 percentage point. Home | Monetary policyAccessibility | Contact Us Last update: October 8, 2008
 

Lists

interest

rate

at

which

depository

institutions

lend

balances

at

the

Federal

Reserve

to

other

depository

institutions.

http://www.federalreserve.gov/fomc/fundsrate.htm

Intended Federal Funds Rate 2008 October

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Lists interest rate at which depository institutions lend balances at the Federal Reserve to other depository institutions.

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