federal reserve

Timeline: The federal funds rate at work

 

1980 Federal Funds Rate 1980 Federal Funds Rate 1984 Federal Funds Rate 2003 Federal Funds Rate 2008 Federal Funds Rate 2012 Federal Funds Rate 2007 Federal Funds Rate 1993 Federal Funds Rate 1981 Federal Funds Rate 1974 Federal Funds Rate

Year: 1993

Rate: Stays at 3 percent all year

The details: After a recession started the decade, the nation stands poised for economic prosperity. The Fed propels growth by starting the year with a federal funds rate of 3 percent, one of the lowest marks in years, and the rate hovers around 3 percent for much of the year. This greases the housing market with lower mortgage rates and helps businesses expand and add jobs. Meltzer says President Bill Clinton's long-term debt-reduction plan "gave people confidence to invest.''

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement

Blog

Crissinda Ponder

New home sales move upward

Sales of new single-family homes are up more than 5% from June 2015 and more than 25% from July 2014, according to new data from the federal government.  ... Read more

advertisement
Partner Center
advertisement

Connect with us