Federal funds rate
Projected federal funds target, midpoint, or quarterly average as labeled.
United States · %7 extracted figures5 institutions1 comparable groups
Forecasts by report dateUnited States
EmphasisedOther institutionsConsensus
| Institution | Period | Reported | Forecast |
|---|---|---|---|
| Wells Fargo | 2026 Q4“Federal Funds Target Rate (j) | 2026 4Q | 3.75” — U.S. Economic Forecast table · 2026 Q4 · source ↗ | 2026-07-30 | 3.75% |
| RBC | 2026 Q4“Fed Funds Rate (%, eop, top of range) | 2026 Q4 | 3.75” — U.S. Forecast Detail · 2026 Q4 · source ↗ | 2026-07-13 | 3.75% |
Readout
- Consensus
- 3.75%
- Spread
- 0.00%
- Low
- 3.75%
- High
- 3.75%
- Reporting
- 2
- Basis
- Quarter-end, upper bound
Single reported figureUnited States
| Institution | Period | Reported | Forecast |
|---|---|---|---|
| New York Fed | December 2026 FOMC“Federal Funds Target Rate or Range Modal Forecasts | Dec. 8-9 | Median 3.63%” — Question 2a · Page 6 · source ↗ | 2026-07-08 | 3.63% |
Readout
- Low
- 3.63%
- High
- 3.63%
- Reporting
- 1
- Basis
- Median modal target midpoint
One institution reporting — no consensus is claimed.
Single reported figureUnited States
| Institution | Period | Reported | Forecast |
|---|---|---|---|
| Fannie Mae | 2026 Q4“Federal Funds Rate | 26.4 | 3.6” — Economic Forecast table · 2026 Q4 · source ↗ | 2026-07-10 | 3.6% |
Readout
- Low
- 3.60%
- High
- 3.60%
- Reporting
- 1
- Basis
- Quarterly average
One institution reporting — no consensus is claimed.
Single reported figureUnited States
| Institution | Period | Reported | Forecast |
|---|---|---|---|
| Fed | 2025 Q4“| Federal funds rate | 3.9 | 3.6 | 3.4 | 3.0 | 3.9–4.4 | 3.1–3.9 | 2.9–3.6 | 2.6–3.6 | 3.6–4.4 | 2.6–4.1 | 2.6–3.9 | 2.5–3.9 |” — Table 1, Federal funds rate, median row, 2025 column · source ↗ | 2025-06-18 | 3.9 |
Readout
- Low
- 3.90%
- High
- 3.90%
- Reporting
- 1
- Basis
- Quarter-end
One institution reporting — no consensus is claimed.
Single reported figureUnited States
| Institution | Period | Reported | Forecast |
|---|---|---|---|
| Fed | 2026 Q4“| Federal funds rate | 3.9 | 3.6 | 3.4 | 3.0 | 3.9–4.4 | 3.1–3.9 | 2.9–3.6 | 2.6–3.6 | 3.6–4.4 | 2.6–4.1 | 2.6–3.9 | 2.5–3.9 |” — Table 1, Federal funds rate, median row, 2026 column · source ↗ | 2025-06-18 | 3.6 |
Readout
- Low
- 3.60%
- High
- 3.60%
- Reporting
- 1
- Basis
- Quarter-end
One institution reporting — no consensus is claimed.
Single reported figureUnited States
| Institution | Period | Reported | Forecast |
|---|---|---|---|
| Fed | 2027 Q4“| Federal funds rate | 3.9 | 3.6 | 3.4 | 3.0 | 3.9–4.4 | 3.1–3.9 | 2.9–3.6 | 2.6–3.6 | 3.6–4.4 | 2.6–4.1 | 2.6–3.9 | 2.5–3.9 |” — Table 1, Federal funds rate, median row, 2027 column · source ↗ | 2025-06-18 | 3.4 |
Readout
- Low
- 3.40%
- High
- 3.40%
- Reporting
- 1
- Basis
- Quarter-end
One institution reporting — no consensus is claimed.