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Recent fed rate history

(2019-07-04 15:54:36) 下一個

1999: GDP = 4.8%, Unemployment = 6%, Inflation = 2.7%

 

Jun 30 5.0% Raised rates.
Aug 24 5.25%  
Nov 16 5.5%  

 

2000: GDP = 4.1%, Unemployment = 6%, Inflation = 3.4%

Feb 2 5.75% Raised rates despite stock market decline in March
Mar 21 6.0% ^
May 16 6.5% ^

 

2001: GDP = 1.0%, Unemployment = 6%, Inflation = 1.6%

Jan 3 6.0% Bush took office. 
Jan 31 5.5% ^
Mar 20 5.0% Recession began. Fed lowered rates to fight it.
Apr 18 4.5% ^
May 15 4.0% ^
Jun 27 3.75% EGTTRA tax rebate enacted.
Aug 21 3.5%  
Sep 17 3.0% 9/11 attacks.
Oct 2 2.5% Afghanistan War.
Nov 6 2.0% Recession ended.
Dec 11 1.75%  

 

2002: GDP = 1.7%, Unemployment = 6%, Inflation = 2.4%

Nov 6 1.25% Fed lowered rates to fight sluggish growth.

 

2003: GDP = 2.9%, Unemployment = 6%, Inflation = 1.9%

Jun 25 1.00% JGTRRA tax cuts enacted.

 

2004: GDP = 3.8%, Unemployment = 6%, Inflation = 3.3%

Jun 30 1.25% Low rates pushed interest-only loans. .
Aug 10 1.5% Helped cause Subprime Mortgage Crisis
Sep 21 1.75% ^
Nov 10 2.0% ^
Dec 14 2.25% ^

 

2005: GDP = 3.5%, Unemployment = 6%, Inflation = 3.4%

Feb 2 2.5% Borrowers could not afford mortgages when rates reset in 3rd year. 
Mar 22 2.75% ^
May 3 3.0% ^
Jun 30 3.25% ^
Aug 9 3.5%  
Sep 20 3.75%  
Nov 1 4.0%  
Dec 13 4.25%  

 

Fed Chair Ben Bernanke (February 2006—January 2014)

2006: GDP = 2.9%, Unemployment = 6%, Inflation = 2.5% 

Jan 31 4.5% Raised to cool housing market bubble. More homeowners default.
Mar 28 4.75% ^
May 10 5.0% ^
Jun 29 5.25% ^

 

2007: GDP = 1.9%, Unemployment = 6%, Inflation = 4.1%

Sep 18 4.75% Home sales fell.
Oct 31 4.5%  
Dec 11 4.25% LIBOR rose. Stock market peaked. Recession began.

 

2008: GDP = -0.1%, Unemployment = 6%, Inflation = 0.1%

Jan 22 3.5%  
Jan 30  3.0% Tax rebate.
Mar 18 2.25% Bear Stearns bailout.
Apr 30 2.0% Lehman fails. Bank bailout approved. AIG bailout.
Oct 8 1.5% ^
Oct 29 1.0% ^
Dec 16 0.25% Effectively zero. Lowest fed fund rates possible
  • Between2008 and 2015, the Fed kept the rate at zero. Recession ended in June 2009.

Fed Chair Janet Yellen (February 2014—February 2018)

2015: GDP = 2.9%, Unemployment = 6%, Inflation = 0.7% 

Dec 17 0.5% Growth stabilized so Fed began raising rates.

 

2016: GDP = 1.6%, Unemployment = 4.6%, Inflation = 2.1% 

Dec 15 0.75% Fed maintained steady increase in rates.

 

2017: GDP = 2.2%, Unemployment = 4.1%, Inflation = 2.1%

Mar 16 1.0% Fed was steady on its path of normalizing its benchmark rate.
Jun 15 1.25% ^
Dec 14 1.5% ^

 

Fed Chair Jerome Powell (Since February 2018)

2018: GDP = 2.95, Unemployment = 3.9%, Inflation = 1.9%

Mar 22 1.75% Fed projects steady growth.
Jun 14 2.0% ^
Sep 27 2.25% ^
Dec 19 2.5% Fed stopped raising rates in 2019. 
 
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