Currencies / United States
US dollar
A higher policy range, with slower quarterly growth
The latest observations
| Indicator | Observation | Reference period |
|---|---|---|
| Federal funds target lower bound | 3.75%Policy setting | 17 Sept 2026Latest available in this briefingRelease & retrievalRelease: Not provided by this feedRetrieved: 20 Sept 2026, 06:06 UTCObservation periods vary by release. The date shown is not a live reading.Original source ↗ |
| Federal funds target upper bound | 4.00%Policy setting | 17 Sept 2026Latest available in this briefingRelease & retrievalRelease: Not provided by this feedRetrieved: 20 Sept 2026, 06:06 UTCObservation periods vary by release. The date shown is not a live reading.Original source ↗ |
| All-items CPI, annual change | 3.4% year on yearNot seasonally adjusted | August 2026Latest available in this briefingRelease & retrievalRelease: Not provided by this feedRetrieved: 20 Sept 2026, 06:06 UTCObservation periods vary by release. The date shown is not a live reading.Original source ↗The linked release is the provider’s current edition; this briefing preserves its own retrieved values. |
| Unemployment rate | 4.1%Seasonally adjusted | August 2026Latest available in this briefingRelease & retrievalRelease: Not provided by this feedRetrieved: 20 Sept 2026, 06:06 UTCObservation periods vary by release. The date shown is not a live reading.Original source ↗The linked release is the provider’s current edition; this briefing preserves its own retrieved values. |
| Nonfarm payroll monthly change | +162 thousandSeasonally adjusted | August 2026Latest available in this briefingPreliminary source valueRelease & retrievalRelease: Not provided by this feedRetrieved: 20 Sept 2026, 06:06 UTCObservation periods vary by release. The date shown is not a live reading.Original source ↗The linked release is the provider’s current edition; this briefing preserves its own retrieved values. |
| Real GDP growth, annualised quarterly | 1.5% annualised quarterlySeasonally adjusted | Q2 2026Latest available in this briefingRelease & retrievalRelease: 26 Aug 2026 (date only)Retrieved: 20 Sept 2026, 06:06 UTCObservation periods vary by release. The date shown is not a live reading.Original source ↗ |
What the evidence shows
The federal funds target range is 3.75% to 4.00%, effective 17 Sept 2026.
Headline CPI rose 3.4% year on year in August 2026. The unemployment rate was 4.1% in August 2026.
Real GDP grew 1.5% annualised quarterly in Q2 2026.
How to read it
The higher target range matters for relative policy comparisons. The latest quarterly growth estimate also shows that the pace of expansion has slowed from the preceding quarter.
Counter-evidence
Payroll employment increased and the latest unemployment rate was unchanged from the previous month. Slower quarterly GDP growth is not the same as a broad contraction.
Scope and limitations
The US GDP headline is annualised. Compare it with other economies only after accounting for that convention.
These releases show actual observations, not whether an outcome exceeded market expectations.