The Federal Reserve Maintains Primary Credit Rate at 3.75%

The primary credit rate remains at 3.75% following a vote by all 12 Reserve Banks. This decision follows Board meetings on February 9 and March 18, 2026, where no sentiment was expressed for changing the rate. The Federal Open Market Committee maintained the federal funds target range at 3.5% to 3.75% and the Board approved keeping interest on reserve balances balances at 3.65%. The secondary rate for secondary and seasonal credit programs remains at 4.25%, which is 50 basis points above primary credit.