MoneyTrack the US Federal Reserve policy rate and the Treasury yield curve — the two numbers that move global markets.
Current stance: The Fed has signalled it is close to the end of its easing cycle and will move meeting-by-meeting on incoming inflation and jobs data.
2026 FOMC meeting calendar
| Meeting date | Status |
|---|---|
| 28 Jan 2026 | Held |
| 18 Mar 2026 | Held |
| 29 Apr 2026 | Held |
| 17 Jun 2026 | Held |
| 29 Jul 2026 | Held |
| 16 Sep 2026 | Next |
| 28 Oct 2026 | Upcoming |
| 16 Dec 2026 | Upcoming |
Why the Fed rate matters
The federal funds rate is the interest rate US banks charge each other overnight, and the Fed’s main tool for steering the economy. Raising it cools demand and inflation but slows growth; cutting it does the reverse. Because the US dollar is the world’s reserve currency, every Fed move ripples into emerging-market currencies, global bond yields, gold, and risk assets everywhere — including Indian equities and the rupee.
Frequently asked questions
What is the current US Fed interest rate?
The federal funds target range is 3.75%–4.00% as of 1 Sep 2026. The Fed sets a range rather than a single number; the effective rate trades near the middle.
When is the next Fed meeting?
The next FOMC decision is scheduled for 16 Sep 2026. Meetings run over two days and the rate decision plus statement come on the afternoon of the second day (US Eastern time), followed by the Chair’s press conference.
How does a Fed rate cut affect India?
A cut generally weakens the US dollar and pushes global investors toward higher-yielding markets, which tends to support the rupee, Indian stocks and bonds, and gold. It also gives the RBI more room to cut its own repo rate without pressuring the currency.