Next release
Released 8 times per yearJul 29, 2026 18:00 UTC
in 38 days
Latest result
The most recent Fed Interest Rate Decision (FOMC) (Jun 17, 2026) printed 3.75% versus 3.75% expected (previous 3.75%) — in line with forecast.
What it measures
This is the moment the Federal Reserve, which sets US interest rates, announces its decision, eight times a year. The rate shapes borrowing costs across the whole economy and is the biggest single influence on the dollar. The decision itself is usually guessed correctly in advance, so the dollar reacts more to the clues about what comes next: the statement, the press conference, and, four times a year, the "dot plot," a chart where each official marks where they expect rates to go.
Interest rates are the main thing that moves a currency, because higher rates reward holding it and draw money in, so a rate rise or a hint of more to come tends to lift the dollar, while a cut or a softer tone weakens it. The catch is that the move itself is usually already expected, so the dollar really reacts to the tone and the dot plot. If officials point to fewer cuts ahead, or sound more worried about inflation than about jobs, the dollar tends to rise, and if they sound more relaxed it tends to fall. Today's Fed has signalled it would rather tolerate slightly high inflation than risk a recession, so traders often lean toward expecting cuts unless inflation forces its hand. There is also a quieter factor: when the committee is deeply divided, or its independence looks under pressure, that alone can unsettle the dollar even when the decision is exactly as expected.
What a higher or lower Fed Interest Rate Decision (FOMC) means for the USD
A stronger-than-expected reading points to a more resilient economy or higher-for-longer rates, which tends to draw capital into the USD.
Higher than forecast
An actual above the 3.75% forecast is typically bullish for the USD.
Lower than forecast
An actual below the 3.75% forecast is typically bearish for the USD.
Release history
Every release of Fed Interest Rate Decision (FOMC): actual vs forecast and the beat/miss outcome. Click a date for the full read of that release.
| Release | Actual | Forecast | Previous | Outcome |
|---|---|---|---|---|
| Jun 17, 2026 | 3.75% | 3.75% | 3.75% | inline |
| Apr 29, 2026 | 3.75% | 3.75% | 3.75% | inline |
| Mar 18, 2026 | 3.75% | 3.75% | 3.75% | inline |
| Jan 28, 2026 | 3.75% | 3.75% | 3.75% | inline |
| Oct 29, 2025 | 4.0% | 4.0% | 4.25% | inline |
| Sep 17, 2025 | 4.25% | 4.25% | 4.5% | inline |
| Jul 30, 2025 | 4.5% | 4.5% | 4.5% | inline |
| Jun 18, 2025 | 4.5% | 4.5% | 4.5% | inline |
| May 7, 2025 | 4.5% | 4.5% | 4.5% | inline |
| Mar 19, 2025 | 4.5% | 4.5% | 4.5% | inline |
| Jan 29, 2025 | 4.5% | 4.5% | 4.5% | inline |
| Dec 18, 2024 | 4.5% | 4.5% | 4.75% | inline |
| Nov 7, 2024 | 4.75% | 4.75% | 5% | inline |
| Sep 18, 2024 | 5% | 5.25% | 5.5% | below |
| Jun 12, 2024 | 5.5% | 5.5% | 5.5% | inline |
| May 1, 2024 | 5.5% | 5.5% | 5.5% | inline |
| Mar 20, 2024 | 5.5% | 5.5% | 5.5% | inline |
| Jan 31, 2024 | 5.5% | 5.5% | 5.5% | inline |
| Dec 13, 2023 | 5.5% | 5.5% | 5.5% | inline |
| Nov 1, 2023 | 5.5% | 5.5% | 5.5% | inline |
| Sep 20, 2023 | 5.5% | 5.5% | 5.5% | inline |
| Jul 26, 2023 | 5.5% | 5.5% | 5.25% | inline |
| Jun 14, 2023 | 5.25% | 5.25% | 5.25% | inline |
| May 3, 2023 | 5.25% | 5.25% | 5% | inline |
| Mar 22, 2023 | 5.0% | 5.0% | 4.75% | inline |
| Feb 1, 2023 | 4.75% | 4.75% | 4.5% | inline |
| Dec 14, 2022 | 4.5% | 4.5% | 4% | inline |
| Nov 2, 2022 | 4% | 4% | 3.25% | inline |
| Sep 21, 2022 | 3.25% | 3.25% | 2.5% | inline |
| Jul 27, 2022 | 2.5% | 2.5% | 1.75% | inline |
| Jun 15, 2022 | 1.75% | 1.75% | 1% | inline |
| May 4, 2022 | 1% | 1% | 0.5% | inline |
| Mar 16, 2022 | 0.5% | 0.5% | 0.25% | inline |
| Jan 26, 2022 | 0.25% | 0.25% | 0.25% | inline |
| Dec 15, 2021 | 0.25% | 0.25% | 0.25% | inline |
| Nov 3, 2021 | 0.25% | 0.25% | 0.25% | inline |
Frequently asked questions
- What is Fed Interest Rate Decision (FOMC)?
- This is the moment the Federal Reserve, which sets US interest rates, announces its decision, eight times a year. The rate shapes borrowing costs across the whole economy and is the biggest single influence on the dollar. The decision itself is usually guessed correctly in advance, so the dollar reacts more to the clues about what comes next: the statement, the press conference, and, four times a year, the "dot plot," a chart where each official marks where they expect rates to go.
- What was the latest Fed Interest Rate Decision (FOMC) reading?
- The most recent release (Jun 17, 2026) came in at 3.75%, versus a forecast of 3.75% and a previous 3.75% — in line with expectations.
- When is the next Fed Interest Rate Decision (FOMC)?
- The next Fed Interest Rate Decision (FOMC) is scheduled for Jul 29, 2026. It is released 8 times per year.
- What happens to the USD if Fed Interest Rate Decision (FOMC) is higher than expected?
- An actual reading above the consensus forecast is typically bullish for the USD, while a reading below forecast is bearish for the USD. A stronger-than-expected reading points to a more resilient economy or higher-for-longer rates, which tends to draw capital into the USD.
- How does Fed Interest Rate Decision (FOMC) affect the USD?
- Interest rates are the main thing that moves a currency, because higher rates reward holding it and draw money in, so a rate rise or a hint of more to come tends to lift the dollar, while a cut or a softer tone weakens it. The catch is that the move itself is usually already expected, so the dollar really reacts to the tone and the dot plot. If officials point to fewer cuts ahead, or sound more worried about inflation than about jobs, the dollar tends to rise, and if they sound more relaxed it tends to fall. Today's Fed has signalled it would rather tolerate slightly high inflation than risk a recession, so traders often lean toward expecting cuts unless inflation forces its hand. There is also a quieter factor: when the committee is deeply divided, or its independence looks under pressure, that alone can unsettle the dollar even when the decision is exactly as expected.