The Federal Reserve's interest rate decision sets US borrowing costs and is the single biggest driver of the US dollar.
Actual
5%
Forecast
5.25%
Previous
5.5%
Fed Interest Rate Decision (FOMC) for September 18, 2024 came in at 5% versus 5.25% expected (previous 5.5%), below forecast, which was negative for the USD.
What it meant for the USD
The actual landed below the 5.25% forecast (0.25 below expectations). A reading above forecast is generally bullish for the USD, and below forecast bearish. On this release the read was negative for the USD.
New to this release? See what Fed Interest Rate Decision (FOMC) measures, the next release and its full history.