The Fed is set to make its next rate decision today. Here's what to expect.

The Federal Reserve Bank is expected to hold its benchmark rate steady at its meeting on Wednesday, maintaining the same cautious posture it has assumed throughout the first half of 2025.

That's according to the CME Group's FedWatch Tool, which as of June 18, 2025, shows a likelihood of 99.9% that the Fed will keep the federal funds rate at its current range of 4.25% to 4.5%. CME Group is the parent company of the Chicago Board of Trade and other exchanges.

The benchmark interest rate has been at its current range since December.