What Is the Current Fed Funds Rate? July 2026 Update and Crypto Market Impact
As of July 15, 2026, the current federal funds rate target range is 3.50% to 3.75%. The midpoint of that range is 3.625%. The latest available effective federal funds rate, or EFFR, is 3.62%, reflecting the actual overnight rate at which eligible institutions borrowed and lent federal funds.The Federal Open Market Committee maintained the target range at its June 16–17, 2026 meeting. The next scheduled FOMC meeting is July 28–29, 2026. Because interest-rate expectations can move the U.S. dollar,