Line chart showing the U.S. federal funds rate over ten years, from June 2015 to June 2025. The rate began near 0.13%, gradually increased to around 2% by late 2018, fell dramatically to 0.05% during the COVID-19 pandemic in early 2020, remained near zero through 2021, then rose aggressively from 2022 to reach a peak of 5.33% in August 2023. The rate declined over the course of 2024 and has stayed at 4.33% since January 2025.