Federal Reserve
Why this is rated stable
Policy is operating normally: scheduled meetings are occurring, forward guidance is consistent, and money markets are functioning without stress. No emergency facilities are active.
Stable: Operating within normal ranges. No significant disruptions or unusual risks. Methodology
What is this?
The Fed is the country's main bank. It decides how much it costs to borrow money.
How it's doing: Working normally.
About this area
The Federal Open Market Committee (FOMC) sets the target range for the federal funds rate and manages the Fed's balance sheet. This page tracks the policy rate, the size of the balance sheet, and what the committee has said about future moves.
Indicators
Latest readings. Changes are shown without judgment of whether up or down is better.
| Indicator | Latest |
|---|---|
Fed funds target (upper bound) Upper bound of the FOMC's target range for overnight lending between banks. Sources: Board of Governors of the Federal Reserve System, Federal Reserve Bank of St. Louis (FRED) | 4.25% |
Fed balance sheet Total assets held by the Federal Reserve, reported weekly. Source: Board of Governors of the Federal Reserve System | $6.62T |
Secured overnight financing rate Source: Federal Reserve Bank of St. Louis (FRED) | 4.18% |
Next FOMC decision Source: Board of Governors of the Federal Reserve System | Oct 28, 2026 |
Charts
Timeline of developments
FOMC holds target range steady
The committee left rates unchanged and said it will continue to assess incoming data on inflation and employment before making further adjustments.
Source: Board of Governors of the Federal Reserve SystemBalance sheet runoff pace unchanged
The Fed continued reducing its securities holdings at the previously announced monthly caps.
Source: Board of Governors of the Federal Reserve System
Sources and citationsWhere this info comes from
- 1.FOMC meeting calendars and statements
Board of Governors of the Federal Reserve System. Accessed Sep 27, 2026.
- 2.H.4.1 Factors Affecting Reserve Balances
Board of Governors of the Federal Reserve System. Accessed Sep 27, 2026.
- 3.Federal Funds Target Range, Upper Limit (DFEDTARU)
Federal Reserve Bank of St. Louis (FRED). Accessed Sep 27, 2026.
- 4.Secured Overnight Financing Rate (SOFR)
Federal Reserve Bank of St. Louis (FRED). Accessed Sep 27, 2026.
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