{"country":"US","series":"policy-rate","value":3.75,"unit":"percent (upper bound of 3.50-3.75% target range)","effective_from":"2026-06-18","last_confirmed":"2026-07-20","source":{"name":"Federal Open Market Committee, FOMC statement of June 17, 2026 (Federal Reserve Board press release, monetary20260617a), with Implementation Note issued June 17, 2026 (monetary20260617a1)","url":"https://www.federalreserve.gov/newsevents/pressreleases/monetary20260617a.htm"},"notes":"The Fed sets a RANGE, not a point. The June 16-17, 2026 FOMC meeting maintained the target range at 3-1/2 to 3-3/4 percent, effective June 18, 2026; the statement reads 'The Committee decided to maintain the target range for the federal funds rate at 3-1/2 to 3-3/4 percent.' We serve the upper bound (3.75) as the numeric value; the lower bound is 3.50. Operational administered rates are set in the Implementation Note (IOR, ON RRP, discount/primary credit rate) and are NOT the same number as the target range - do not conflate them. The effective federal funds rate (EFFR), published daily by the New York Fed, is a transaction-weighted market outcome that trades inside the range and will differ from both bounds. This is the latest decision as of 2026-07-20: the next scheduled FOMC meeting is later in July 2026, so this value can change within days of the last_confirmed date. federalreserve.gov served cleanly over plain HTTPS; no paywall or JS shell.","confidence":"primary","stale":false,"disclaimer":"Independent service, not affiliated with any government. Verify against the cited official source before legal or financial use."}