The question “when is the next Fed meeting on interest rates” is top of mind for many Americans, and the latest confirmed update is that the Federal Open Market Committee is scheduled to meet on December 9–10, 2025. This final meeting of the year will determine whether the central bank adjusts the federal funds rate as policymakers evaluate inflation, employment data, and broader financial conditions.
Table of Contents
Why the December 9–10 Meeting Matters
The December gathering is one of the most consequential sessions on the Federal Reserve’s annual calendar. It includes not only a rate decision but also the release of updated economic projections that outline expectations for inflation, unemployment, GDP growth, and interest-rate paths for the coming years.
Markets currently expect a 0.25-percentage-point rate cut at this meeting, which would mark the third reduction of the year. Traders have been pricing in this move with a high probability based on recent economic developments and the central bank’s messaging throughout 2025.
Even with this expectation, the decision is not guaranteed. Several policymakers have warned that inflation, although lower than its prior peak, continues to run above preferred levels in some categories. They have also pointed to areas of the job market that show resilience, suggesting the Fed may still act cautiously.
Current Status of Interest Rates
The federal funds rate currently stands in a 3.75% to 4.00% range. This level reflects the central bank’s ongoing push to balance inflation control with economic stability. While price pressures have eased from their highs, they remain elevated enough that the Fed has not committed to an aggressive series of cuts.
A December cut would be viewed by many analysts as a measured or “hawkish” cut—a move signaling that the Fed is willing to ease slightly while still emphasizing that future decisions will depend on data. That approach helps the institution maintain flexibility as it navigates a challenging economic environment.
What to Expect on December 10
Whenever the central bank makes a rate decision, several components of the announcement draw significant attention. The December session will be no different. Key developments to watch include:
- The official interest rate announcement, expected mid-afternoon on the second day of the meeting.
- A press conference with the Fed Chair, offering insight into how policymakers are interpreting the state of the economy.
- Fresh economic projections, covering expected inflation, employment levels, economic growth, and the future rate path through 2026 and beyond.
These elements often move financial markets immediately, influencing stocks, bonds, mortgage rates, and consumer borrowing costs.
Meeting Dates After December 2025
The next opportunity for a policy change after the December meeting will come early the following year. The Federal Reserve has already published its meeting calendar for 2026, and the first scheduled session is set for January 27–28, 2026.
Additionally, several 2026 meetings include full economic projections, typically occurring in March, June, September, and December. These projection-heavy meetings tend to carry more weight because they provide the clearest look at how policymakers view the path ahead.
2026 Meeting Dates:
- January 27–28
- March 17–18
- April 28–29
- June 16–17
- July 28–29
- September 15–16
- October 27–28
- December 8–9
Unless the central bank calls an emergency session, these are the official dates when future rate decisions will be announced.
Why This Meeting Is Drawing Strong Attention
The December meeting has become a pivotal milestone for several reasons:
1. Borrowing Costs Are at a Key Turning Point
A rate cut would affect mortgages, auto loans, business loans, and credit card interest. Even small adjustments can impact households and companies that rely on financing.
2. Markets Are Watching Forward Guidance
Investors are eager to understand the projected path for rates in 2026. Clearer guidance can reduce uncertainty and help financial markets recalibrate expectations.
3. The Economic Outlook Is Mixed
Some data points show easing inflation and softer labor conditions. Others show pockets of strength and lingering price pressures. Policymakers must carefully weigh these conflicting signals.
4. Consumer and Business Confidence Hangs in the Balance
A shift in interest rates can influence everything from spending habits to hiring decisions. With growth showing signs of moderation, the timing and tone of December’s decision will carry meaningful implications.
How the December Decision Could Affect Americans
A potential rate cut may influence several areas of everyday financial life. While the exact impact depends on economic conditions and lender policies, here are common effects:
- Mortgage Rates: Homebuyers could see slightly improved borrowing costs, especially for adjustable-rate loans.
- Credit Cards: Many credit cards track the federal funds rate, so a cut can reduce interest on carried balances.
- Auto Loans: Dealers and lenders may offer better terms, helping offset high vehicle prices.
- Savings Accounts: Yields may decline modestly, especially for high-yield savings.
- Business Borrowing: Companies may benefit from lower financing costs, potentially supporting hiring or investment.
These effects typically appear gradually as lenders adjust to updated financial conditions.
What to Watch Going Into the Meeting
As December approaches, several indicators will shape expectations:
- Month-to-month inflation trends
- Wage and employment data
- Consumer-spending patterns
- Manufacturing and service-sector reports
- Financial-market stability
The central bank regularly emphasizes that any decision ultimately depends on data, not forecasts. That makes each new report influential as policymakers prepare for their final meeting of the year.
Bottom Line
For those asking “when is the next Fed meeting on interest rates,” the answer is clear: the next scheduled decision arrives on December 9–10, 2025. This meeting will likely shape borrowing costs, financial markets, and the broader economic landscape heading into 2026. With strong interest from consumers, investors, businesses, and policymakers, all eyes will be on the upcoming announcement and economic projections.
Share your thoughts or questions about the upcoming decision in the comments below