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Fed Rate Path

The Federal Reserve’s target range and effective rate (via FRED), the next FOMC decision days, recent rate changes and, when Kalshi prices are available, market-implied odds from Kalshi (otherwise a link to CME FedWatch).

Markets Snapshot

Rate Path

Fed funds target, upper bound

FEDERAL RESERVE
—next rate decision  
Current target range—
Effective fed funds rate—
— Upper bound of the target range

EVERY MOVE IN THIS WINDOW

Target range and effective rate from the Federal Reserve via FRED · FRED, Federal Funds Target Range

Latest reading in plain text

The reading shown here, written out with its time and source. Times are UTC. Figures come from public sources, may be delayed and are never execution prices. None of the sources is answering right now; the readings return when one does.

What it is and how to read it

Definitions as of 13 Nov 2026.

Fed Rate Path

The Federal Reserve sets a target range for the federal funds rate, the rate at which banks lend to each other overnight. This page shows the upper bound of the range, the effective rate actually paid, and the decision days of the Federal Open Market Committee (FOMC).

How to read it. A cut lowers the target range, a hike raises it, and no change leaves it where it is. The decision day is the second day of each FOMC meeting. What markets expect is separate from the decision itself: for upcoming meetings this page shows market-implied odds from Kalshi prediction-market prices when Kalshi answers, and otherwise links to CME’s FedWatch Tool instead. They are traders’ pricing, not our forecast, and can change quickly.

Frequently asked questions

What is the Fed’s target range?

It is the range the Federal Reserve aims to keep the federal funds rate inside. It is set at FOMC meetings, and the current range is shown above with the date it is from.

When is the next FOMC decision?

The next decision day on our calendar is 9 December 2026. Dates are those we have recorded from the Federal Reserve’s published calendar; confirm them on federalreserve.gov, which is the authority.

Why does the Fed’s rate matter for crypto?

Interest rates change what cash and bonds pay, so changes in the rate path, or expectations of them, have often coincided with moves in crypto and other risk assets. The link is not fixed, and this page does not predict prices.

Nothing on this page is investment advice. See the risk disclaimer.