US Fed Funds Interest Rate: Latest Updates and Trends
The US Federal Reserve's interest rate decisions are among the most closely watched monetary policy actions globally, with far-reaching effects on financial markets and economic policies.
Stay informed on the United States Fed Funds Interest Rate with real-time updates, historical trends, and key insights into how these decisions influence the global economy and your investments.
US Fed interest rate expectation for the upcoming meeting
The next Federal Open Market Committee (FOMC) meeting will be on 17 Jun 2026.
According to CME Fedwatch Tool as of 06 May 2026, there is a 95.9% probability that the US Federal Reserve will maintain interest rates in the upcoming meeting.
The CME FedWatch tool forecasts rate movements based on fed funds futures trading data.
Source: CME FedWatch Tool
Data as of 06 May 2026
Upcoming US Fed reserve meeting dates
The Federal Open Market Committee (FOMC) meets regularly to set the US Federal Reserve's interest rate policy, impacting borrowing costs, inflation, and economic growth. Below are the upcoming Fed meeting dates along with the latest market expectations for interest rate changes.
- 17 Jun 2026
- 29 Jul 2026
- 16 Sep 2026
- 28 Oct 2026
- 09 Dec 2026
- 27 Jan 2027
- 17 Mar 2027
- 28 Apr 2027
- 09 Jun 2027
- 28 Jul 2027
- 15 Sep 2027
- 27 Oct 2027
- 08 Dec 2027
US Fed interest rate decision recap
Latest FOMC decision (April 29, 2026): The Federal Open Market Committee left the target federal funds rate unchanged at 3.50% to 3.75%.
The committee said economic activity was still expanding at a solid pace, while job gains had remained low on average and unemployment was little changed. It emphasized that inflation was still elevated, partly because of higher global energy prices, and said developments in the Middle East were adding significant uncertainty to the outlook.
Overall, the message was a hold-with-caution decision: policymakers kept rates steady while signaling they would stay data dependent and assess future adjustments based on incoming inflation, labor-market, and broader financial and international developments. The meeting was notable for unusually strong internal disagreement, with multiple dissents reflecting a split between officials who wanted to remove the policy’s easing bias and one official who preferred an immediate quarter-point cut.
Impact of US Fed interest rate decision on Singapore investors
Here's how your savings and investments may be impacted when the US Fed cuts interest rates.
Savings Accounts & Fixed Deposits: Banks tend to lower interest rates on savings accounts and fixed deposits, resulting in lower returns for depositors.
Singapore T-Bills: Yields on US Treasuries typically decline with rate cuts, and Singapore T-bill yields often follow, offering lower potential returns for investors.
Singapore REITs: Lower interest rates reduce borrowing costs for REITs, improving their profitability. Additionally, with declining yields on fixed-income assets, investors may shift towards REITs for higher dividend yields, boosting demand and potentially lifting their share prices.
Bond Funds: Lower interest rates boost the prices of existing bonds, as newer bonds offer lower yields. This leads to potential capital gains for bond funds, enhancing their overall returns.
Compare T-bills with fixed deposits and savings account.
What is the CME FedWatch tool?
The CME FedWatch Tool is a powerful tool used by traders and investors to track US Fed interest rate expectations. By analysing Fed Funds futures contracts, the tool provides real-time predictions on the US Federal Reserve's interest rate decisions before each FOMC meeting. Whether you're anticipating a rate hike or rate cut, the CME FedWatch Tool helps you stay informed on the US Fed interest rate movements.
Key Features of the CME FedWatch Tool:
- Live probability tracking for upcoming FOMC meetings.
- Market-based forecasts using Fed Funds futures data.
- Historical trends to analyze past rate decisions and their impact.
Stay ahead of monetary policy shifts by using the CME FedWatch Tool to track Federal Reserve rate decisions before they happen.
How does the CME FedWatch Tool work?
The CME FedWatch Tool works by analyzing Fed Funds futures pricing to predict the likelihood of upcoming Fed interest rate decisions. This tool extracts real-time data from the futures markets to estimate the chances of rate hikes, rate cuts, or a hold decision by the US Federal Reserve. By tracking this market sentiment, the CME FedWatch Tool provides investors with insights into US Fed interest rate changes, helping them prepare for potential adjustments in borrowing costs and economic conditions.
How It Works:
- Market Data Analysis: The tool extracts pricing data from active Fed Funds futures contracts.
- Probability Calculation: It applies a model to estimate the likelihood of a rate hike, cut, or hold based on current futures pricing.
- Real-Time Updates: The tool continuously adjusts as market sentiment changes, providing up-to-date rate predictions.
Traders use this data to anticipate FOMC decisions, adjust investment strategies, and navigate interest rate volatility.
How does US Fed affect the interest rates?
The US Federal Reserve sets the US Fed interest rate, which directly influences economic activity and financial markets. Through its FOMC meetings, the US Fed adjusts interest rates to manage inflation, encourage economic growth, or stabilize financial markets. A Fed interest rate hike or rate cut can affect everything from mortgage rates to investment returns, including global markets like Singapore. Understanding how the US Fed interest rate moves helps investors anticipate changes in the market and adjust their portfolios accordingly.
Why Does the Fed Change Interest Rates?
- To Control Inflation: Higher rates slow down inflation by making borrowing more expensive.
- To Stimulate Growth: Lower rates encourage spending and investment, boosting the economy.
- To Maintain Stability: The Fed adjusts rates to balance economic growth and financial stability.
The CME FedWatch Tool helps investors anticipate these Fed rate changes by providing real-time probability forecasts ahead of each FOMC meeting.