macroeconomics

Ever wonder how the Fed's interest rate actually works? We've got answers

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Key claims & sources

Summary in preparation.

Market reaction i

Total crypto marketall crypto assets combined no single asset in the event: read against the whole market

We only have 0 data points in that window. The series is stored every half hour, so newer events will have it. Computing it from two points would not be a reaction, it would be a coincidence.

Coverage timeline

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first
Sep 22 20:35
NPR — Business scoop our clock
Breaks the event

What Federal funds rate has done before

WhenWhat happenedFigure
37 days ago Federal funds rate: 3.88 (+0.13) rise Oct 2026
2 months ago Federal funds rate: 3.75 (+0.12) rise Sep 2026
3 months ago Federal funds rate: 3.63 no change Aug 2026
4 months ago Federal funds rate: 3.63 no change Jul 2026
5 months ago Federal funds rate: 3.63 no change Jun 2026

FRED series, with the value of each release and its change.

What could happen next i

Fed Decision in December? Polymarket · settles Dec 9 · $1.9M bet in 24 h
78% 25 bps increase ▲ 11 pts in 24 h
  • 25 bps increase ▲11 78%
  • No change ▼11 20%
  • 25 bps decrease <1%
  • 50+ bps increase <1%
25 bps increase, last 16 days
Fed decision in Dec 2026? Kalshi · settles Dec 9 · $371.0k bet in 24 h
80% Hike 25bps ▲ 13 pts in 24 h
  • Hike 25bps ▲13 80%
  • Fed maintains rate ▼12 20%
  • Cut 25bps 2%
  • Hike >25bps 1%
  • 1 more1%
Hike 25bps, last 16 days
How many Fed rate cuts in 2026? Polymarket · settles Jan 1 · $91.6k bet in 24 h
98% 0 (0 bps)
  • 0 (0 bps) 98%
  • 1 (25 bps) 1%
  • 2 (50 bps) <1%
  • 3 (75 bps) <1%
0 (0 bps), last 16 days