Interest Rate and Yield Curve Spread Trends:
10-yr US Treasury vs. 2-yr US Treasury
10-yr US Treasury vs. 3-mo US Treasury
Federal Reserve FOMC Interest Rate Activity: 2019
The Fed has indicated continuation along its interest rate normalization program commenced in December 2015. The Fed raised interest rates once in 2015 totaling 25 bps, once in 2016 totaling 25 bps and three times in 2017 totaling 75 bps.
In 2018, the Fed raised interest rates on three occassions in March, June and September by 25 bps each.
And the Fed did raise interest rates one more time at the December FOMC meeting for a total of 100 bps increase during 2018.
With this hike, the effective federal funds rate will be approximately 2.40 - 2.50% - reaching levels last seen in the Spring of 2008.
At the FOMC meeting held March 19-20, 2019, the Fed made no change to the fed funds rate. And the FOMC projections suggest that there may be no further increases in 2019. It will all depend upon the economic data. The next FOMC meeting where an interest rate decision is typically made will be June 18-19.