What were the interest rates in 2018 (USA)?

Question: What were the interest rates in 2018 (USA)?

What were the Federal Funds Rate in 2018?

In 2018, the Federal Reserve raised the Federal Funds Rate four times. The rate started the year at a range of 1.25% to 1.50% and ended the year at a range of 2.25% to 2.50%. Here are the adjustments made throughout the year:

1. In March, the rate was increased to a range of 1.50% to 1.75%.
2. In June, the rate was increased to a range of 1.75% to 2.00%.
3. In September, the rate was increased to a range of 2.00% to 2.25%.
4. In December, the rate was increased to a range of 2.25% to 2.50%.

These adjustments were made in response to a strong economy and to keep inflation near the Federal Reserve’s target of 2%.

What were the Personal Loan Interest Rates in 2018?

The interest rates on personal loans at banks for a 24-month loan fluctuated throughout 2018. According to the Federal Reserve Economic Data:

• In February, the rate was 10.22%.
• In May, the rate increased slightly to 10.31%.
• In August, the rate decreased to 10.08%.
• In November, the rate increased to 10.65%.

What were the Credit Card Interest Rates in 2018?

The interest rates on credit cards also fluctuated throughout 2018. According to the Federal Reserve Economic Data:

• In February, the rate was 13.63%.
• In May, the rate increased to 14.14%.
• In August, the rate increased further to 14.38%.
• In November, the rate increased to 14.73%.

Average inflation rate (CPI) during 2018

According to the Federal Reserve Economic Data, the average inflation rate in 2018 was 1.91%. This is measured by the Consumer Price Index for All Urban Consumers (CPI-U), which is a common measure of inflation in the US.

Source notes: Finance Rate on Personal Loans at Commercial Banks, 24 Month Loan (Source Federal Reserve Economic Data), Commercial Bank Interest Rate on Credit Card Plans All Accounts (Source Federal Reserve Economic Data), Inflation rate according to Federal Reserve Economic Data (CPI for All Urban Consumers: All Items in U.S. City Average, Percent Change from Year Ago. Annual, Not Seasonally Adjusted)