The trend since 2019.
The latest available read: Real Policy Rate is at 0.41% as of July 2026. Source: Derived from official source series.
Why it matters.
A near-zero real rate means the Fed's borrowing cost barely exceeds inflation, which encourages spending and borrowing but erodes savings returns. This ultra-loose stance affects your mortgage rates, credit card costs, and how much your cash actually earns.
Where it fits.
Real Policy Rate feeds the Inflation & the Fed view — one of the six areas behind the site's Macro IQ score.