US Interest Rate today
The US interest rate (Fed Funds) is set by the FOMC, the monetary policy committee of the Federal Reserve, every ~6 weeks. It is the most important interest rate in the world: it moves the US dollar, US equities, capital flows into emerging markets like Brazil, and ultimately your investments. Here you can see the current range, the decision history, and when the next meeting is — all updated automatically.
Target range, effective rate, and real rate
What today's US rate means.
US interest rate history
FOMC target ceiling over time (% per year).
FOMC decision history
Each meeting where the Fed hiked, cut, or held rates.
| Date | From → To | Change | Decision |
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Data sources
All data collected automatically from official public sources, with no manual intervention:
- Target range and effective rate: Federal Reserve Bank of New York (NY Fed Markets API) — FOMC target range and the EFFR (effective rate).
- US Inflation (CPI 12m): Bureau of Labor Statistics (BLS), CPI-U index.
- Meeting calendar: official FOMC schedule published by the Federal Reserve.
- Market expectations: Kalshi — regulated prediction market where the probability of a cut/hold/hike is traded in real time (reflects the same consensus as the CME FedWatch). Shown when there is sufficient liquidity close to the meeting.
When the page updates
On normal days, once a day. On FOMC decision days, the server polls the Federal Reserve periodically in the afternoon and, as soon as the new rate is published (2 pm New York time), updates this page and sends a notification to all users informing them whether the Fed hiked, cut, or held rates.
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US interest rates today sit in a target range of 3.50% – 3.75%. That is the federal funds target range, set by the FOMC — the monetary policy committee of the Federal Reserve. The effective rate actually traded in the market (EFFR) is 3.63%.
The range has been in place since December 11, 2025. At its last meeting, on July 29, 2026, the Fed held rates. The next FOMC meeting begins on Sep 15, 2026, with the decision on Sep 16, 2026 (10 days away), a meeting at which the Fed also publishes its projections (the dot plot).
Prediction markets point to a near tie between a hike (51%) and a hold (48%) for the next decision. With CPI inflation at 3.36% over 12 months, the US real interest rate is around 0.26%. This matters well beyond the US: higher American rates pull capital toward Treasuries, strengthen the dollar and tend to drain money out of emerging markets such as Brazil.
Frequently asked questions
What are US interest rates today?
The federal funds target range is 3.50% – 3.75%, set by the FOMC. The effective rate traded in the interbank market is 3.63%.
When is the next Fed meeting?
The next FOMC meeting starts on September 15, 2026 and the decision is announced on September 16, 2026 at 2 p.m. Eastern, followed by the Fed chair's press conference.
Will the Fed cut rates?
Prediction markets currently point to a near tie between a hike (51%) and a hold (48%) for the next meeting. The decision depends on the inflation (CPI) and jobs (payroll) data released between now and then.
How do US interest rates affect Brazil?
High US rates make Treasuries — widely seen as the world's safest asset — more attractive. That pulls capital out of emerging markets, strengthens the dollar against the Brazilian real and weighs on Brazilian stocks and REITs. When the Fed cuts, the flow tends to reverse.
What is the difference between the target range and the effective rate?
The Fed does not set a single number: it defines a range (today, 3.50% – 3.75%) and operates in the market to keep the traded rate inside it. The effective rate (EFFR) is the average of what actually traded — today, 3.63%.
What time is the Fed decision announced?
The FOMC statement is released at 2 p.m. Eastern, and the chair's press conference starts 30 minutes later. The press conference, rather than the statement itself, is usually what moves markets. The next decision is on September 16, 2026.
What is the fed funds rate?
It is the rate US banks charge each other for overnight loans. The Fed does not set it directly: it defines a target range (today 3.50% – 3.75%) and operates in the market to keep the traded rate within it. As the benchmark rate of the world's largest economy, it anchors the price of virtually every global asset.