The U.S. federal funds rate is the interest rate charged for overnight lending among financial institutions with accounts at the Federal Reserve and sets the base rate for borrowing costs across the financial system (Investopedia). The target for the federal funds rate is set by the Federal Open Market Committee. The FOMC has meetings scheduled throughout the year, and there is internal debate about how quickly to raise rates (The Federal Reserve, The Federal Reserve, NY Times). _{Confused? Check our FAQ or ask us for help.}

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The FOMC raised rates three (3) times in the relevant time period. This question closed as "3" with an end date of 1 October 2018. _{See our FAQ to learn about how we resolve questions and how scores are calculated.}