Figure 12. Federal funds rate, historic and projected 2029
Year Federal funds rate

1989

9.2

1990

8.1

1991

5.7

1992

3.5

1993

3.0

1994

4.2

1995

5.8

1996

5.3

1997

5.5

1998

5.4

1999

5.0

2000

6.2

2001

3.9

2002

1.7

2003

1.1

2004

1.3

2005

3.2

2006

5.0

2007

5.0

2008

1.9

2009

0.2

2010

0.2

2011

0.1

2012

0.1

2013

0.1

2014

0.1

2015

0.1

2016

0.4

2017

1.0

2018

1.8

2019

2.2

2020 projected

1.8

2021 projected

2.2

2022 projected

2.2

2023 projected

2.4

2024 projected

2.5

2025 projected

2.6

2026 projected

2.5

2027 projected

2.5

2028 projected

2029 projected

2.4

Sources: Historical data—Federal Open Market Committee, Federal Reserve; and projected data—U.S. Bureau of Labor Statistics.