Federal Reserve

Janet Yellen | Alex Wong/Getty Images

Why the Fed is letting interest rates sit

Janet Yellen and her colleagues at the Federal Reserve decided to kick back and keep rates on ice at their June meeting. We translate the Fed’s statement to help you understand what central bank policymakers are doing. 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.

How Fed moves affect mortgage rates

Click through the timeline below to see the effect the Fed's moves had on mortgage rates.

Fed History

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Mark Hamrick

The Fed on Brexit: We’ve got this

The Federal Reserve is advising calm amid the Brexit brouhaha.  ... Read more

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

Jeffrey M. Lacker

Richmond, Virginia

Dennis P. Lockhart

Atlanta

John C. Williams

San Francisco

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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Stephen Pounds

Brexit may hurt US exports, help interest rates

Voters in the United Kingdom have approved a referendum to leave the 28-nation European Union in a move that is sure to disrupt markets today and possibly longer.  ... Read more

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