At close of business on 29 January 2025, will the upper limit of the Federal Reserve's target range for the federal funds rate be lower, the same, or higher than it was at close of business on 18 December 2024?
Closing Jan 29, 2025 08:01AM UTC
The US federal funds rate is the interest rate charged for overnight lending among financial institutions with accounts at the Federal Reserve and sets the base rate for borrowing costs across the financial system (Federal Reserve). The target range for the federal funds rate is set by the Federal Open Market Committee (FOMC). Its January meeting is scheduled for 28-29 January 2025.
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