The benchmark interest rate in the United States was last recorded at 0.25 percent. Interest Rate in the United States is reported by the Federal Reserve. the United States Interest Rate averaged 6.12 Percent from 1971 until 2013, reaching an all time high of 20 Percent in May of 1981 and a record low of 0.25 Percent in December of 2008. In the United States, the authority for interest rate decisions is divided between the Board of Governors of the Federal Reserve (Board) and the Federal Open Market Committee (FOMC). The Board decides on changes in discount rates after recommendations submitted by one or more of the regional Federal Reserve Banks. The FOMC decides on open market operations, including the desired levels of central bank money or the desired federal funds market rate.