Federal Reserve

Janet Yellen | Win McNamee/Getty Images

Fed decides another rate hike can wait

Federal Reserve chief Janet Yellen and the other central bank bosses held off on raising the benchmark interest rate. But they're not expected to keep the status quo for too much longer, as many experts expect the Fed to lift rates this summer. 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.

Blog

Amanda Dixon

Fed stands pat on rates, but probably not for long

We’re still on track for two more rate hikes this year, which means interest rates on credit cards and home equity lines of credit are set to rise.  ... 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

Chicago

Patrick Harker

Philadelphia

Robert Kaplan

Dallas

Neel Kashkari

Minneapolis

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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