FOMC · Live
Fed Rate Decision Tracker
Every FOMC decision, and what it means for your savings, mortgage, and credit card rates. Updated within hours of each announcement.
Did your bank pass on the September hike? See the bank-by-bank trackerDecision pending — market projections updated daily.
2026 FOMC Meeting Schedule & Decisions
Hold — inflation still above target
PCE at 2.7% — no cut yet, dot plot unchanged at 2 cuts for 2026
PCE at 2.6% — no cut yet, dot plot still projecting 2 cuts in 2026
Hold — market had priced a cut ahead of the meeting; the FOMC stood pat
Hold — target range unchanged at 3.50-3.75%
Hike — first increase since 2023. Median projection now 4.1% by year end, one more hike penciled in
How Fed Decisions Move Your Rates
Different products respond differently to Fed rate changes. Here's what a 25bps cut, hold, or hike means for each.
High-Yield Savings (HYSA)
4.27% APYMoney Market Accounts
4.17% APYCD Rates (12-month)
5.00% APY30-Year Mortgage
6.94% APRCredit Card APR
~22.4% APR (average)HELOC Rate
Prime (7.00%) + your lender's marginWhat a 0.25-point Fed move is worth on your savings
If your bank passes the full move on to you, each 0.25-point change in your savings rate changes a year of interest by:
Banks don't have to pass a hike on, and most savings accounts had not moved a week after the September 2026 increase. Check whether yours did, or compare CD rates. Full historical data: Fed Funds rate chart.
Fed Funds Rate — monthly (FRED)
The effective rate over the current cycle. See the full history page for the complete series and per-balance dollar impact.
The Full Rate Cycle — 2022 to Today
The Fed raised rates 525bps in 16 months (2022-2023) — the fastest hiking cycle in 40 years. The cutting cycle began in September 2024 and ended in December 2025; in September 2026 the Fed raised rates again.
| Period | Action | Rate | Change |
|---|---|---|---|
| September 2026 | Rate hike +25bps, first since 2023 | 3.75-4.00% | +25bps |
| July 2026 | Hold | 3.50-3.75% | Hold |
| June 2026 | Hold | 3.50-3.75% | Hold |
| April 2026 | Hold | 3.50-3.75% | Hold |
| March 2026 | Hold | 3.50-3.75% | Hold |
| January 2026 | Hold | 3.50-3.75% | Hold |
| December 2025 | Rate cut -25bps | 3.50-3.75% | -25bps |
| November 2025 | Rate cut -25bps | 3.75-4.00% | -25bps |
| September 2025 | Rate cut -25bps | 4.00-4.25% | -25bps |
| January 2025 | Hold | 4.25-4.50% | Hold |
| December 2024 | Rate cut -25bps | 4.25-4.50% | -25bps |
| November 2024 | Rate cut -25bps | 4.50-4.75% | -25bps |
| September 2024 | First cut -50bps | 4.75-5.00% | -50bps |
| July 2023 | Rate hike +25bps — peak | 5.25-5.50% | +25bps |
| February 2023 | Rate hike +25bps | 4.50-4.75% | +25bps |
| November 2022 | Rate hike +75bps | 3.75-4.00% | +75bps |
| July 2022 | Rate hike +75bps | 2.25-2.50% | +75bps |
| June 2022 | Rate hike +75bps | 1.50-1.75% | +75bps |
| May 2022 | Rate hike +50bps | 0.75-1.00% | +50bps |
| March 2022 | Hiking cycle begins | 0.25-0.50% | +25bps |
Make Sure the Hike Reaches Your Savings
The Fed raised rates, but your bank decides whether you see any of it. Compare what you earn with today's top rates.