After the last crisis, the Fed pegged the interest rate for one-day maturity at near zero. Throughout its various rounds of Quantitative Easing, most critics expected rising, if not skyrocketing, consumer prices. And the commonly-accepted remedy is for the Fed to raise interest rates. So in Dec 2015—exactly seven years after it pegged it at zero—the Fed began to hike the rate. Over a period of three years and a month, it pushed the Fed Funds Rate up to 2.4%.
fed rate hike history 2020
Federal Reserve Interest Rate Decision Forecast – No expectation for a change in the Fed funds target rate
The Federal Reserve will finish its scheduled two-day meeting of the Federal Reserve Open Market Committee (FOMC) on Wednesday, December 11th. The governors will release the policy decision and economic and rate Projection Materials at 19:00 GMT. 14:00 EST. Chairman Powell will read his statement and hold a news conference starting at 19:30 GMT, 14:30 EST.