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Recent changes in the federal funds rate

Changes in the Federal Reserve's target for the federal funds rate beginning in July 1990, the month the last recession began.

July 13, 1990: 8 percent, reduced from 8.25 percent.

Oct. 29, 1990: 7.75 percent

Nov. 14, 1990: 7.50 percent

Dec. 7, 1990: 7.25 percent

Dec. 18, 1990: 7.00 percent

Jan. 4, 1991: 6.75 percent

Feb. 1, 1991: 6.25 percent

March 8, 1991: 6.0 percent

April 30, 1991: 5.75 percent

Aug. 6, 1991: 5.5 percent

Sept. 13, 1991: 5.25 percent

Oct. 30, 1991: 5 percent

Nov. 6, 1991: 4.75 percent

Dec. 20, 1991: 4 percent

April 9, 1992: 3.75 percent

July 2, 1992: 3.25 percent

Sept. 4, 1992: 3 percent

Feb. 4, 1994: 3.25 percent

March 22, 1994: 3.5 percent

April 18, 1994: 3.75 percent

May 17, 1994: 4.25 percent

Aug. 16, 1994: 4.75 percent

Nov. 15, 1994: 5.50 percent

Feb. 1, 1995: 6 percent

July 6, 1995: 5.75 percent

Dec. 19, 1995: 5.50 percent

Jan. 31, 1996: 5.25 percent

March 25, 1997: 5.50 percent

Sept. 29, 1998: 5.25 percent

Oct. 15, 1998: 5 percent

Nov. 17, 1998: 4.75 percent

June 30, 1999: 5 percent

August 24, 1999: 5.25 percent

November 16, 1999: 5.50 percent

Feb. 2, 2000: 5.75 percent

March 21, 2000: 6 percent

May 16, 2000: 6.50 percent

Jan. 3, 2001: 6 percent

Jan. 31, 2001: 5.50 percent

March 20, 2001: 5 percent.