Fed Rate Changes Since 1990
{{#rendered}} {{/rendered}}
The Federal Reserve on Tuesday raised the benchmark federal funds rate to 4.5 percent from 4.25 percent, the central bank's 14th interest rate hike in a row since it began tightening in June 2004.
The following is a chronology of the Federal Reserve's changes in the federal funds rate since 1990. Moves are measured in basis points (bps), each of which equals one-hundredth of a percentage point:
2006
{{#rendered}} {{/rendered}}
Jan 31 Raised 25 bps to 4.50 pct
2005
Dec 13 Raised 25 bps to 4.25 pct
{{#rendered}} {{/rendered}}
Nov 1 Raised 25 bps to 4.00 pct
Sept 20 Raised 25 bps to 3.75 pct
Aug 9 Raised 25 bps to 3.50 pct
{{#rendered}} {{/rendered}}
June 30 Raised 25 bps to 3.25 pct
May 3 Raised 25 bps to 3.00 pct
March 22 Raised 25 bps to 2.75 pct
{{#rendered}} {{/rendered}}
Feb 2 Raised 25 bps to 2.50 pct
2004
Dec 14 Raised 25 bps to 2.25 pct
{{#rendered}} {{/rendered}}
Nov 10 Raised 25 bps to 2.00 pct
Sept 21 Raised 25 bps to 1.75 pct
Aug 10 Raised 25 bps to 1.50 pct
{{#rendered}} {{/rendered}}
June 30 Raised 25 bps to 1.25 pct
2003
June 25 Cut 25 bps to 1.00 pct
{{#rendered}} {{/rendered}}
2002
Nov 6 Cut 50 bps to 1.25 pct
2001
{{#rendered}} {{/rendered}}
Dec 12 Cut 25 bps to 1.75 pct
Nov 6 Cut 50 bps to 2.00 pct
Oct 2 Cut 50 bps to 2.50 pct
{{#rendered}} {{/rendered}}
Sept 17 Cut 50 bps to 3.00 pct
Aug 21 Cut 25 bps to 3.50 pct
June 27 Cut 25 bps to 3.75 pct
{{#rendered}} {{/rendered}}
May 15 Cut 50 bps to 4.00 pct
April 18 Cut 50 bps to 4.50 pct
March 20 Cut 50 bps to 5.00 pct
{{#rendered}} {{/rendered}}
Jan 31 Cut 50 bps to 5.50 pct
Jan 3 Cut 50 bps to 6.00 pct
2000
{{#rendered}} {{/rendered}}
May 16 Raised 50 bps to 6.50 pct
March 21 Raised 25 bps to 6.00 pct
Feb 2 Raised 25 bps to 5.75 pct
{{#rendered}} {{/rendered}}
1999
Nov 16 Raised 25 bps to 5.50 pct
Aug 24 Raised 25 bps to 5.25 pct
{{#rendered}} {{/rendered}}
June 30 Raised 25 bps to 5.00 pct
1998
Nov 17 Cut 25 bps to 4.75 pct
{{#rendered}} {{/rendered}}
Oct 15 Cut 25 bps to 5.00 pct
Sept 29 Cut 25 bps to 5.25 pct
1997
{{#rendered}} {{/rendered}}
March 25 Raised 25 bps to 5.50 pct
1996
Jan 31 Cut 25 bps to 5.25 pct
{{#rendered}} {{/rendered}}
1995
Dec 19 Cut 25 bps to 5.50 pct
July 6 Cut 25 bps to 5.75 pct
{{#rendered}} {{/rendered}}
Feb 1 Raised 50 bps to 6.00 pct
1994
Nov 15 Raised 75 bps to 5.50 pct
{{#rendered}} {{/rendered}}
Aug 16 Raised 50 bps to 4.75 pct
May 17 Raised 50 bps to 4.25 pct
April 18 Raised 25 bps to 3.75 pct
{{#rendered}} {{/rendered}}
March 22 Raised 25 bps to 3.50 pct
Feb 4 Raised 25 bps to 3.25 pct
1993
No rate changes
1992
Sept 4 Cut 25 bps to 3.00 pct
July 2 Cut 50 bps to 3.25 pct
April 9 Cut 25 bps to 3.75 pct
1991
Dec 20 Cut 50 bps to 4.00 pct
Dec 6 Cut 25 bps to 4.50 pct
Nov 6 Cut 25 bps to 4.75 pct
Oct 31 Cut 25 bps to 5.00 pct
Sept 13 Cut 25 bps to 5.25 pct
Aug 6 Cut 25 bps to 5.50 pct
April 30 Cut 25 bps to 5.75 pct
March 8 Cut 25 bps to 6.00 pct
Feb 1 Cut 50 bps to 6.25 pct
Jan 9 Cut 25 bps to 6.75 pct
1990
Dec 18 Cut 25 bps to 7.00 pct
Dec 7 Cut 25 bps to 7.25 pct
Nov 13 Cut 25 bps to 7.50 pct
Oct 29 Cut 25 bps to 7.75 pct
July 13 Cut 25 bps to 8.00 pct