United States · Federal Reserve
FOMC meeting dates and fed funds history.
The 2026 and 2027 meeting calendar, plus every federal funds target change since September 1982.
The next FOMC meeting is October 27–28, 2026. The target range is 3.75%–4.00%, set 2026-09-17 (a 0.25 point increase). The Fed says each meeting date is tentative until confirmed at the meeting before it.
What was the fed funds target on a date?
Result
FOMC meetings, 2026 and 2027
| Year | Meeting days | Projections (SEP) | Target range after | Outcome |
|---|---|---|---|---|
| 2026 | Jan 27–28 | No | 3.50–3.75% | Held |
| 2026 | Mar 17–18 | Yes | 3.50–3.75% | Held |
| 2026 | Apr 28–29 | No | 3.50–3.75% | Held |
| 2026 | Jun 16–17 | Yes | 3.50–3.75% | Held |
| 2026 | Jul 28–29 | No | 3.50–3.75% | Held |
| 2026 | Sep 15–16 | Yes | 3.75–4.00% | +25 bp |
| 2026 | Oct 27–28 | No | — | Upcoming |
| 2026 | Dec 8–9 | Yes | — | Upcoming |
| 2027 | Jan 26–27 | No | — | Scheduled |
| 2027 | Mar 16–17 | Yes | — | Scheduled |
| 2027 | Apr 27–28 | No | — | Scheduled |
| 2027 | Jun 8–9 | Yes | — | Scheduled |
| 2027 | Jul 27–28 | No | — | Scheduled |
| 2027 | Sep 14–15 | Yes | — | Scheduled |
| 2027 | Oct 26–27 | No | — | Scheduled |
| 2027 | Dec 7–8 | Yes | — | Scheduled |
Outcomes for 2026 meetings are inferred from the target series: no change appears between December 11, 2025 and September 17, 2026, so January through July were holds. Meetings marked Yes are those the Fed flags with a Summary of Economic Projections.
Every target change since 1982 (186 changes), newest first
| Effective date | Lower bound | Upper bound or single target | Change (bp) |
|---|---|---|---|
| 2026-09-17 | 3.75% | 4.00% | +25 |
| 2025-12-11 | 3.50% | 3.75% | −25 |
| 2025-10-30 | 3.75% | 4.00% | −25 |
| 2025-09-18 | 4.00% | 4.25% | −25 |
| 2024-12-19 | 4.25% | 4.50% | −25 |
| 2024-11-08 | 4.50% | 4.75% | −25 |
| 2024-09-19 | 4.75% | 5.00% | −50 |
| 2023-07-27 | 5.25% | 5.50% | +25 |
| 2023-05-04 | 5.00% | 5.25% | +25 |
| 2023-03-23 | 4.75% | 5.00% | +25 |
| 2023-02-02 | 4.50% | 4.75% | +25 |
| 2022-12-15 | 4.25% | 4.50% | +50 |
| 2022-11-03 | 3.75% | 4.00% | +75 |
| 2022-09-22 | 3.00% | 3.25% | +75 |
| 2022-07-28 | 2.25% | 2.50% | +75 |
| 2022-06-16 | 1.50% | 1.75% | +75 |
| 2022-05-05 | 0.75% | 1.00% | +50 |
| 2022-03-17 | 0.25% | 0.50% | +25 |
| 2020-03-16 | 0.00% | 0.25% | −100 |
| 2020-03-04 | 1.00% | 1.25% | −50 |
| 2019-10-31 | 1.50% | 1.75% | −25 |
| 2019-09-19 | 1.75% | 2.00% | −25 |
| 2019-08-01 | 2.00% | 2.25% | −25 |
| 2018-12-20 | 2.25% | 2.50% | +25 |
| 2018-09-27 | 2.00% | 2.25% | +25 |
| 2018-06-14 | 1.75% | 2.00% | +25 |
| 2018-03-22 | 1.50% | 1.75% | +25 |
| 2017-12-14 | 1.25% | 1.50% | +25 |
| 2017-06-15 | 1.00% | 1.25% | +25 |
| 2017-03-16 | 0.75% | 1.00% | +25 |
| 2016-12-14 | 0.50% | 0.75% | +25 |
| 2015-12-16 | 0.25% | 0.50% | +25 |
| 2008-12-16 | 0.00% | 0.25% | −75 |
| 2008-10-29 | — | 1.00% | −50 |
| 2008-10-08 | — | 1.50% | −50 |
| 2008-04-30 | — | 2.00% | −25 |
| 2008-03-18 | — | 2.25% | −75 |
| 2008-01-30 | — | 3.00% | −50 |
| 2008-01-22 | — | 3.50% | −75 |
| 2007-12-11 | — | 4.25% | −25 |
| 2007-10-31 | — | 4.50% | −25 |
| 2007-09-18 | — | 4.75% | −50 |
| 2006-06-29 | — | 5.25% | +25 |
| 2006-05-10 | — | 5.00% | +25 |
| 2006-03-28 | — | 4.75% | +25 |
| 2006-01-31 | — | 4.50% | +25 |
| 2005-12-13 | — | 4.25% | +25 |
| 2005-11-01 | — | 4.00% | +25 |
| 2005-09-20 | — | 3.75% | +25 |
| 2005-08-09 | — | 3.50% | +25 |
| 2005-06-30 | — | 3.25% | +25 |
| 2005-05-03 | — | 3.00% | +25 |
| 2005-03-22 | — | 2.75% | +25 |
| 2005-02-02 | — | 2.50% | +25 |
| 2004-12-14 | — | 2.25% | +25 |
| 2004-11-10 | — | 2.00% | +25 |
| 2004-09-21 | — | 1.75% | +25 |
| 2004-08-10 | — | 1.50% | +25 |
| 2004-06-30 | — | 1.25% | +25 |
| 2003-06-25 | — | 1.00% | −25 |
| 2002-11-06 | — | 1.25% | −50 |
| 2001-12-11 | — | 1.75% | −25 |
| 2001-11-06 | — | 2.00% | −50 |
| 2001-10-02 | — | 2.50% | −50 |
| 2001-09-17 | — | 3.00% | −50 |
| 2001-08-21 | — | 3.50% | −25 |
| 2001-06-27 | — | 3.75% | −25 |
| 2001-05-15 | — | 4.00% | −50 |
| 2001-04-18 | — | 4.50% | −50 |
| 2001-03-20 | — | 5.00% | −50 |
| 2001-01-31 | — | 5.50% | −50 |
| 2001-01-03 | — | 6.00% | −50 |
| 2000-05-16 | — | 6.50% | +50 |
| 2000-03-21 | — | 6.00% | +25 |
| 2000-02-02 | — | 5.75% | +25 |
| 1999-11-16 | — | 5.50% | +25 |
| 1999-08-24 | — | 5.25% | +25 |
| 1999-06-30 | — | 5.00% | +25 |
| 1998-11-17 | — | 4.75% | −25 |
| 1998-10-15 | — | 5.00% | −25 |
| 1998-09-29 | — | 5.25% | −25 |
| 1997-03-25 | — | 5.50% | +25 |
| 1996-01-31 | — | 5.25% | −25 |
| 1995-12-19 | — | 5.50% | −25 |
| 1995-07-06 | — | 5.75% | −25 |
| 1995-02-01 | — | 6.00% | +50 |
| 1994-11-15 | — | 5.50% | +75 |
| 1994-08-16 | — | 4.75% | +50 |
| 1994-05-17 | — | 4.25% | +50 |
| 1994-04-18 | — | 3.75% | +25 |
| 1994-03-22 | — | 3.50% | +25 |
| 1994-02-04 | — | 3.25% | +25 |
| 1992-09-04 | — | 3.00% | −25 |
| 1992-07-02 | — | 3.25% | −50 |
| 1992-04-09 | — | 3.75% | −25 |
| 1991-12-20 | — | 4.00% | −50 |
| 1991-12-06 | — | 4.50% | −25 |
| 1991-11-06 | — | 4.75% | −25 |
| 1991-10-31 | — | 5.00% | −25 |
| 1991-09-13 | — | 5.25% | −25 |
| 1991-08-06 | — | 5.50% | −25 |
| 1991-04-30 | — | 5.75% | −25 |
| 1991-03-08 | — | 6.00% | −25 |
| 1991-02-01 | — | 6.25% | −50 |
| 1991-01-09 | — | 6.75% | −25 |
| 1990-12-19 | — | 7.00% | −25 |
| 1990-12-07 | — | 7.25% | −25 |
| 1990-11-14 | — | 7.50% | −25 |
| 1990-10-29 | — | 7.75% | −25 |
| 1990-07-13 | — | 8.00% | −25 |
| 1989-12-20 | — | 8.25% | −25 |
| 1989-11-06 | — | 8.50% | −25 |
| 1989-10-19 | — | 8.75% | −31 |
| 1989-07-27 | — | 9.06% | −25 |
| 1989-07-07 | — | 9.31% | −25 |
| 1989-06-06 | — | 9.56% | −25 |
| 1989-05-17 | — | 9.81% | +6 |
| 1989-02-24 | — | 9.75% | +44 |
| 1989-02-14 | — | 9.31% | +19 |
| 1989-02-09 | — | 9.13% | +13 |
| 1989-01-05 | — | 9.00% | +31 |
| 1988-12-15 | — | 8.69% | +31 |
| 1988-11-22 | — | 8.38% | +6 |
| 1988-11-17 | — | 8.31% | +19 |
| 1988-08-09 | — | 8.13% | +38 |
| 1988-08-08 | — | 7.75% | +6 |
| 1988-07-19 | — | 7.69% | +19 |
| 1988-07-01 | — | 7.50% | +6 |
| 1988-06-22 | — | 7.44% | +19 |
| 1988-05-25 | — | 7.25% | +25 |
| 1988-05-09 | — | 7.00% | +25 |
| 1988-03-30 | — | 6.75% | +25 |
| 1988-02-11 | — | 6.50% | −12 |
| 1988-01-28 | — | 6.63% | −19 |
| 1987-11-04 | — | 6.81% | −50 |
| 1987-09-24 | — | 7.31% | +6 |
| 1987-09-04 | — | 7.25% | +38 |
| 1987-09-03 | — | 6.88% | +13 |
| 1987-08-27 | — | 6.75% | +13 |
| 1987-07-02 | — | 6.63% | −12 |
| 1987-05-22 | — | 6.75% | +25 |
| 1987-04-30 | — | 6.50% | +50 |
| 1987-01-05 | — | 6.00% | +13 |
| 1986-08-21 | — | 5.88% | −50 |
| 1986-07-11 | — | 6.38% | −50 |
| 1986-06-05 | — | 6.88% | +6 |
| 1986-05-22 | — | 6.81% | +6 |
| 1986-04-21 | — | 6.75% | −56 |
| 1986-04-02 | — | 7.31% | +6 |
| 1986-03-07 | — | 7.25% | −50 |
| 1985-12-18 | — | 7.75% | −25 |
| 1985-09-06 | — | 8.00% | +19 |
| 1985-08-21 | — | 7.81% | +6 |
| 1985-07-25 | — | 7.75% | +6 |
| 1985-07-11 | — | 7.69% | −6 |
| 1985-05-20 | — | 7.75% | −50 |
| 1985-04-25 | — | 8.25% | −25 |
| 1985-03-28 | — | 8.50% | +13 |
| 1985-02-14 | — | 8.38% | +13 |
| 1985-01-24 | — | 8.25% | +13 |
| 1984-12-24 | — | 8.13% | −37 |
| 1984-12-19 | — | 8.50% | −25 |
| 1984-12-06 | — | 8.75% | −25 |
| 1984-11-23 | — | 9.00% | −50 |
| 1984-11-08 | — | 9.50% | −50 |
| 1984-10-18 | — | 10.00% | −50 |
| 1984-10-11 | — | 10.50% | −50 |
| 1984-09-27 | — | 11.00% | −25 |
| 1984-09-20 | — | 11.25% | −25 |
| 1984-08-09 | — | 11.50% | +25 |
| 1984-07-19 | — | 11.25% | +25 |
| 1984-07-05 | — | 11.00% | +50 |
| 1984-03-29 | — | 10.50% | +113 |
| 1983-09-15 | — | 9.38% | −12 |
| 1983-08-17 | — | 9.50% | −6 |
| 1983-08-11 | — | 9.56% | +13 |
| 1983-07-20 | — | 9.44% | +19 |
| 1983-07-14 | — | 9.25% | +25 |
| 1983-06-24 | — | 9.00% | +25 |
| 1983-05-25 | — | 8.75% | +13 |
| 1983-03-31 | — | 8.63% | +13 |
| 1982-12-14 | — | 8.50% | −50 |
| 1982-11-19 | — | 9.00% | −50 |
| 1982-10-07 | — | 9.50% | −50 |
| 1982-10-01 | — | 10.00% | −25 |
| 1982-09-27 | — | 10.25% | — |
Worked example
On September 17, 2026 the upper bound moved from 3.75% to 4.00%, a change of +25 basis points. Prime, which tracks the upper bound plus 3.00 points, moved from 6.75% to 7.00% the same day. A $200,000 variable-rate balance priced at prime therefore costs about $41.67 more a month in interest ($200,000 × 0.25% ÷ 12).
Plain-language explainer
The Federal Open Market Committee (FOMC) meets eight times a year to set the federal funds target — the interest rate banks charge each other for overnight loans. Everything from credit cards to savings accounts follows it.
Until December 2008 the Fed announced one target number. Since then it announces a range 0.25 points wide; the lower and upper bounds are shown separately. Before that date the lower bound is blank and the single target sits in the upper column. A basis point (bp) is one hundredth of a percentage point, so 25 bp = 0.25 points.
Dates in the history table are the effective dates recorded in FRED, which can be the day after the meeting’s final day.
Cite this page
TNAADO Tools. "FOMC Meeting Dates 2026-2027 and Fed Funds Rate History." https://tools.tnaado.ca/us/fomc-meeting-dates-fed-funds-history.html Data as of 2026-10-01. Source: Federal Reserve Board FOMC calendars; FRED DFEDTAR, DFEDTARL, DFEDTARU.
Sources: Federal Reserve FOMC meeting calendars (page last updated September 16, 2026) for dates; FRED DFEDTAR (1982–2008), DFEDTARL and DFEDTARU (2008 onward) for target rates; downloaded 2026-10-01.
Frequently asked questions
When is the next FOMC meeting?
October 27–28, 2026, then December 8–9, 2026, per the Federal Reserve calendar. The 2027 meetings are January 26–27, March 16–17, April 27–28, June 8–9, July 27–28, September 14–15, October 26–27 and December 7–8.
What is the federal funds rate right now?
The target range is 3.75% to 4.00%, effective 2026-09-17.
Are the 2027 dates final?
No. The Federal Reserve notes that each meeting date is tentative until confirmed at the meeting immediately preceding it.
What does the asterisk or SEP column mean?
Meetings flagged Yes are the four a year with a Summary of Economic Projections, including the “dot plot.”
How far back does the history go?
To September 27, 1982, when the series begins at 10.25%. Rows before December 16, 2008 show a single target; later rows show a lower and upper bound.
Reference data, not advice
Figures are copied from the primary sources linked above as of October 1, 2026. Always confirm against the source before relying on a number for a filing, contract or loan.