<Table> FOMC Federal Funds Rate History <Tr> <Th> Date </Th> <Th> Fed . Funds Rate </Th> <Th> Discount Rate </Th> <Th> Votes </Th> <Th> Notes </Th> </Tr> <Tr> <Td> Dec 13 , 2017 </Td> <Td> 1.25 % -- 1.50 % </Td> <Td> 2.00 % </Td> <Td> 7 - 2 </Td> <Td> Kashkari and Evans both dissented due to flattening yield curve concerns . Official statement </Td> </Tr> <Tr> <Td> Jun 14 , 2017 </Td> <Td> 1.00 % -- 1.25 % </Td> <Td> 1.75 % </Td> <Td> 8 - 1 </Td> <Td> Official statement </Td> </Tr> <Tr> <Td> Mar 15 , 2017 </Td> <Td> 0.75 -- 1.00 % </Td> <Td> 1.50 % </Td> <Td> 9 -- 1 </Td> <Td> Official statement </Td> </Tr> <Tr> <Td> Dec 14 , 2016 </Td> <Td> 0.50 -- 0.75 % </Td> <Td> 1.25 % </Td> <Td> 10 -- 0 </Td> <Td> Official statement </Td> </Tr> <Tr> <Td> Dec 16 , 2015 </Td> <Td> 0.25 -- 0.50 % </Td> <Td> 1.00 % </Td> <Td> 10 -- 0 </Td> <Td> Official statement </Td> </Tr> <Tr> <Td> Jun 22 , 2011 </Td> <Td> 0.00 -- 0.25 % </Td> <Td> 0.75 % </Td> <Td> 10 - 0 </Td> <Td> Official statement </Td> </Tr> <Tr> <Td> Dec 16 , 2008 </Td> <Td> 0.00 -- 0.25 % </Td> <Td> 0.50 % </Td> <Td> 10 -- 0 </Td> <Td> Official statement See also : ZIRP </Td> </Tr> <Tr> <Td> Oct 29 , 2008 </Td> <Td> 1.00 % </Td> <Td> 1.25 % </Td> <Td> 10 -- 0 </Td> <Td> Official statement </Td> </Tr> <Tr> <Td> Oct 8 , 2008 </Td> <Td> 1.50 % </Td> <Td> 1.75 % </Td> <Td> X -- X </Td> <Td> This was an emergency unscheduled meeting in response to a rapidly weakening economy , made in coordination with several other central banks around the world . Official statement </Td> </Tr> <Tr> <Td> Apr 30 , 2008 </Td> <Td> 2.00 % </Td> <Td> 2.25 % </Td> <Td> 8 -- 2 </Td> <Td> The FOMC cut rates by 25 basis points . They drew back on their easing bias somewhat by removing `` downside risks to growth remain '' from its statement , but left no sign of a future pause to the interest rate cuts . Fisher and Plosser dissented , preferring no change . Official statement </Td> </Tr> <Tr> <Td> Mar 18 , 2008 </Td> <Td> 2.25 % </Td> <Td> 2.50 % </Td> <Td> 8 -- 2 </Td> <Td> The FOMC made another unusually large cut , slashing 75 basis points off the federal funds rate in response to turmoil in the markets and the collapse of Bear Stearns . Despite some predicting an even larger 100 basis point cut , the markets rallied in response . Fisher and Plosser dissented , preferring a smaller cut . Official statement </Td> </Tr> <Tr> <Td> Mar 16 , 2008 </Td> <Td> 3.00 % </Td> <Td> 3.25 % </Td> <Td> 10 -- 0 </Td> <Td> This was an emergency unscheduled meeting in response to the meltdown at Bear Stearns . The FOMC arranged loan securities for JPMorgan Chase and greased a buyout of Bear Stearns to make certain that Bear 's debts would be backed . It also provided for the creation of a fund to swap safe Treasury securities for less secure ones held by banks . It lastly shaved the difference between the discount rate and the federal funds rate from 50 basis points to 25 . Official statement </Td> </Tr> <Tr> <Td> January 30 , 2008 </Td> <Td> 3.00 % </Td> <Td> 3.50 % </Td> <Td> 9 -- 1 </Td> <Td> Fisher dissented , preferring no change . Official statement </Td> </Tr> <Tr> <Td> January 22 , 2008 </Td> <Td> 3.50 % </Td> <Td> 4.00 % </Td> <Td> 8 -- 1 </Td> <Td> This was an intermeeting rate cut held in response to the January stock downturn , with the results announced Tuesday morning before the U.S. market opened . Poole dissented , saying that emergency action was not required and could wait for the scheduled meeting . Mishkin was absent . Official statement </Td> </Tr> <Tr> <Td> Dec 11 , 2007 </Td> <Td> 4.25 % </Td> <Td> 4.75 % </Td> <Td> 9 -- 1 </Td> <Td> Rosengren dissented , preferring a 50 basis point cut . The markets , disappointed with a 25 basis point cut , fell in response ; the Fed issued a statement the day after ( December 12 ) pledging an increased money supply to the markets in conjunction with other central banks . Official statement 2007 - 12 - 11 , Official statement 2007 - 12 - 12 </Td> </Tr> <Tr> <Td> Oct 31 , 2007 </Td> <Td> 4.50 % </Td> <Td> 5.00 % </Td> <Td> 9 -- 1 </Td> <Td> Hoenig dissented ,
<Table> FOMC Federal Funds Rate History <Tr> <Th> Date </Th> <Th> Fed . Funds Rate </Th> <Th> Discount Rate </Th> <Th> Votes </Th> <Th> Notes </Th> </Tr> <Tr> <Td> Dec 13 , 2017 </Td> <Td> 1.25 % -- 1.50 % </Td> <Td> 2.00 % </Td> <Td> 7 - 2 </Td> <Td> Kashkari and Evans both dissented due to flattening yield curve concerns . Official statement </Td> </Tr> <Tr> <Td> Jun 14 , 2017 </Td> <Td> 1.00 % -- 1.25 % </Td> <Td> 1.75 % </Td> <Td> 8 - 1 </Td> <Td> Official statement </Td> </Tr> <Tr> <Td> Mar 15 , 2017 </Td> <Td> 0.75 -- 1.00 % </Td> <Td> 1.50 % </Td> <Td> 9 -- 1 </Td> <Td> Official statement </Td> </Tr> <Tr> <Td> Dec 14 , 2016 </Td> <Td> 0.50 -- 0.75 % </Td> <Td> 1.25 % </Td> <Td> 10 -- 0 </Td> <Td> Official statement </Td> </Tr> <Tr> <Td> Dec 16 , 2015 </Td> <Td> 0.25 -- 0.50 % </Td> <Td> 1.00 % </Td> <Td> 10 -- 0 </Td> <Td> Official statement </Td> </Tr> <Tr> <Td> Jun 22 , 2011 </Td> <Td> 0.00 -- 0.25 % </Td> <Td> 0.75 % </Td> <Td> 10 - 0 </Td> <Td> Official statement </Td> </Tr> <Tr> <Td> Dec 16 , 2008 </Td> <Td> 0.00 -- 0.25 % </Td> <Td> 0.50 % </Td> <Td> 10 -- 0 </Td> <Td> Official statement See also : ZIRP </Td> </Tr> <Tr> <Td> Oct 29 , 2008 </Td> <Td> 1.00 % </Td> <Td> 1.25 % </Td> <Td> 10 -- 0 </Td> <Td> Official statement </Td> </Tr> <Tr> <Td> Oct 8 , 2008 </Td> <Td> 1.50 % </Td> <Td> 1.75 % </Td> <Td> X -- X </Td> <Td> This was an emergency unscheduled meeting in response to a rapidly weakening economy , made in coordination with several other central banks around the world . Official statement </Td> </Tr> <Tr> <Td> Apr 30 , 2008 </Td> <Td> 2.00 % </Td> <Td> 2.25 % </Td> <Td> 8 -- 2 </Td> <Td> The FOMC cut rates by 25 basis points . They drew back on their easing bias somewhat by removing `` downside risks to growth remain '' from its statement , but left no sign of a future pause to the interest rate cuts . Fisher and Plosser dissented , preferring no change . Official statement </Td> </Tr> <Tr> <Td> Mar 18 , 2008 </Td> <Td> 2.25 % </Td> <Td> 2.50 % </Td> <Td> 8 -- 2 </Td> <Td> The FOMC made another unusually large cut , slashing 75 basis points off the federal funds rate in response to turmoil in the markets and the collapse of Bear Stearns . Despite some predicting an even larger 100 basis point cut , the markets rallied in response . Fisher and Plosser dissented , preferring a smaller cut . Official statement </Td> </Tr> <Tr> <Td> Mar 16 , 2008 </Td> <Td> 3.00 % </Td> <Td> 3.25 % </Td> <Td> 10 -- 0 </Td> <Td> This was an emergency unscheduled meeting in response to the meltdown at Bear Stearns . The FOMC arranged loan securities for JPMorgan Chase and greased a buyout of Bear Stearns to make certain that Bear 's debts would be backed . It also provided for the creation of a fund to swap safe Treasury securities for less secure ones held by banks . It lastly shaved the difference between the discount rate and the federal funds rate from 50 basis points to 25 . Official statement </Td> </Tr> <Tr> <Td> January 30 , 2008 </Td> <Td> 3.00 % </Td> <Td> 3.50 % </Td> <Td> 9 -- 1 </Td> <Td> Fisher dissented , preferring no change . Official statement </Td> </Tr> <Tr> <Td> January 22 , 2008 </Td> <Td> 3.50 % </Td> <Td> 4.00 % </Td> <Td> 8 -- 1 </Td> <Td> This was an intermeeting rate cut held in response to the January stock downturn , with the results announced Tuesday morning before the U.S. market opened . Poole dissented , saying that emergency action was not required and could wait for the scheduled meeting . Mishkin was absent . Official statement </Td> </Tr> <Tr> <Td> Dec 11 , 2007 </Td> <Td> 4.25 % </Td> <Td> 4.75 % </Td> <Td> 9 -- 1 </Td> <Td> Rosengren dissented , preferring a 50 basis point cut . The markets , disappointed with a 25 basis point cut , fell in response ; the Fed issued a statement the day after ( December 12 ) pledging an increased money supply to the markets in conjunction with other central banks . Official statement 2007 - 12 - 11 , Official statement 2007 - 12 - 12 </Td> </Tr> <Tr> <Td> Oct 31 , 2007 </Td> <Td> 4.50 % </Td> <Td> 5.00 % </Td> <Td> 9 -- 1 </Td> <Td> Hoenig dissented ,
when was the last time the fed funds rate target was changed
when was the last time the fed funds rate target was changed
Dec 13 , 2017
Dec 13 , 2017