Fomc rate decision date
In its latest FOMC decision on January 29th 2020, the Fed left the target range for its federal funds rate unchanged at 1.5-1.75 percent, raised the interest on excess reserves rate (IOER) by 5 basis points to 1.6% and said that overnight repo operations will continue at least through April 2020 to ensure that the supply of reserves remain ample. According to the Fed's "dot plot" of individual expectations, five members thought the FOMC should have held its previous range of 2% to 2.25%, five approved of the 25 basis point cut but keeping Powell spoke after the Federal Open Market Committee held the target range of the federal funds rate steady at 1.5% to 1.75% and its median forecast showed no rate change through next year.