Rate Changes
Federal fund rates beginning with the latest and ending with July 1990, the month the last recession began. More on Federal Reserve

2005    
Line   December 13 – 4.25 percent

November 1 – 4.00 percent

September 20 – 3.75 percent

August 9 – 3.50 percent

June 30 – 3.25 percent

May 3 – 3.00 percent

March 22 – 2.75 percent

Feb. 2 – 2.5 percent

2004    
Line   December 14 – 2.25 percent

November 10 – 2.00 percent

September 21 – 1.75 percent

August 10 – 1.50 percent

June 30 – 1.25 percent

2003    
Line   June 25 – 1 percent

2002    
Line   November 6 – 1.25 percent

2001    
Line   December 11 – 1.75 percent

November 6 – 2.0 percent

October 2 – 2.5 percent

September 17 – 3.0 percent

August 21 – 3.5 percent

June 27 – 3.75 percent

May 15 – 4 percent

April 18 – 4.5 percent

March 20 – 5 percent

Jan. 31 – 5.50 percent

Jan. 3 – 6 percent

2000    
Line   May 16 – 6.5 percent

March 21 – 6 percent

Feb. 2 – 5.75 percent

1999    
Line   Nov. 16 – 5.50 percent

Aug. 24 – 5.25 percent

June 30 – 5 percent

1998    
Line   Nov. 17 – 4.75 percent

Oct. 15 – 5 percent

Sept. 29 – 5.25 percent

1997    
Line   March 25 – 5.50 percent

1996    
Line   Jan. 31 – 5.25 percent

1995    
Line   Dec. 19 – 5.50 percent

July 6 – 5.75 percent

Feb. 1 – 6 percent

1994    
Line   Nov. 15 – 5.50 percent

Aug. 16 – 4.75 percent

May 17 – 4.25 percent

April 18 – 3.75 percent

March 22 – 3.5 percent

Feb. 4 – 3.25 percent

1993    
Line   No rate cuts
1992    
Line   Sept. 4 – 3 percent

July 2 – 3.25 percent

April 9 – 3.75 percent

1991    
Line   Dec. 20 – 4 percent

Dec. 6 – 4.50 percent

Nov. 6 – 4.75 percent

Sept. 13 – 5.25 percent

Aug. 6 – 5.5 percent

April 30 – 5.75 percent

March 8 – 6.0 percent

Feb. 1 – 6.25 percent

Jan. 8 – 6.75 percent

1990    
Line   Dec. 18 – 7 percent

Dec. 7 – 7.25 percent

Nov. 14 – 7.50 percent

Oct. 29 – 7.75 percent

July 13 – 8 percent, reduced from 8.25 percent.


© 2005 The Washington Post Company