Federal Reserve

Janet Yellen | Tuomas Marttila/Getty Images

Fed adds oomph to interest rates

Janet Yellen and her colleagues at the central bank like what they see as they analyze the nation’s economy. So they decided to raise interest rates for the third time since late 2015. That means borrowing money will cost you more. Read more

Federal funds rate

The interest rate at which banks lend money to one another overnight to meet loan reserve requirements. The federal funds rate is a tool used by the Federal Reserve to control the supply of available money and hence, inflation and other interest rates.

Raising the rate makes it more expensive to borrow. That lowers the supply of available money, which helps keep inflation in check. Lowering the rate has the opposite effect.


Holden Lewis

Fed honcho quits; is a shakeup coming?

A Federal Reserve official has quit in scandal. What does that mean for interest rates?  ... Read more

2017 FOMC meetings

  • Jan.-Feb. 31-1
  • March 14-15
  • May 2-3
  • June 13-14
  • July 25-26
  • September 19-20
  • Oct.-Nov. 31-1
  • December 12-13

The Federal Open Market Committee

The rate-setting Federal Open Market Committee meets at least eight times a year. Its members include the Board of Governors of the Federal Reserve System, the president of the Federal Reserve Bank of New York and a rotating selection of presidents of the other 11 reserve banks.

Janet Yellen

Board of Governors, Chair

William C. Dudley

Vice Chairman

Charles L. Evans


Patrick Harker


Robert Kaplan


Neel Kashkari


Jerome H. Powell

Board of Governors

Daniel K. Tarullo

Board of Governors

Stanley Fischer

Board of Governors

Lael Brainard

Board of Governors

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