View market daily updates and historical trends for Effective Federal Funds Rate. from United States. Source: Federal Reserve. Track economic data with YC…

Graph and download economic data for Federal Funds Target Range - Upper Limit (DFEDTARU) from 2008-12-16 to 2025-12-01 about federal, interest rate, interest, rate, and USA.

The benchmark interest rate in the United States was last recorded at 4 percent. This dataset provides the latest reported value for - United States Fed Funds Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The U.S. federal funds rate peaked in 2023 at its highest level since the 2007-08 financial crisis, reaching 5.33 percent by December 2023. A significant shift in monetary policy occurred in the second half of 2024, with the Federal Reserve implementing regular rate cuts. By December 2024, the rate had declined to 4.48 percent. What is a central bank rate? The federal funds rate determines the cost of overnight borrowing between banks, allowing them to maintain necessary cash reserves and ensure financial system liquidity. When this rate rises, banks become more inclined to hold rather than lend money, reducing the money supply. While this decreased lending slows economic activity, it helps control inflation by limiting the circulation of money in the economy. Historic perspective The federal funds rate historically follows cyclical patterns, falling during recessions and gradually rising during economic recoveries. Some central banks, notably the European Central Bank, went beyond traditional monetary policy by implementing both aggressive asset purchases and negative interest rates.

View data of the Effective Federal Funds Rate, or the interest rate depository institutions charge each other for overnight loans of funds.

The U.S. federal funds effective rate underwent a dramatic reduction in early 2020 in response to the COVID-19 pandemic. The rate plummeted from 1.58 percent in February 2020 to 0.65 percent in March and further decreased to 0.05 percent in April. This sharp reduction, accompanied by the Federal Reserve's quantitative easing program, was implemented to stabilize the economy during the global health crisis. After maintaining historically low rates for nearly two years, the Federal Reserve began a series of rate hikes in early 2022, with the rate moving from 0.33 percent in April 2022 to 5.33 percent in August 2023. The rate remained unchanged for over a year before the Federal Reserve initiated its first rate cut in nearly three years in September 2024, bringing the rate to 5.13 percent. By December 2024, the rate was cut to 4.48 percent, signaling a shift in monetary policy in the second half of 2024. In January 2025, the Federal Reserve implemented another cut, setting the rate at 4.33 percent, which remained unchanged until September 2025, when another cut set the rate at 4.22 percent. In October 2025, the rate was further reduced to 4.09 percent. What is the federal funds effective rate? The U.S. federal funds effective rate determines the interest rate paid by depository institutions, such as banks and credit unions, that lend reserve balances to other depository institutions overnight. Changing the effective rate in times of crisis is a common way to stimulate the economy, as it has a significant impact on the whole economy, such as economic growth, employment, and inflation. Central bank policy rates The adjustment of interest rates in response to the COVID-19 pandemic was a coordinated global effort. In early 2020, central banks worldwide implemented aggressive monetary easing policies to combat the economic crisis. The U.S. Federal Reserve's dramatic reduction of its federal funds rate—from 1.58 percent in February 2020 to 0.05 percent by April—mirrored similar actions taken by central banks globally. While these low rates remained in place throughout 2021, mounting inflationary pressures led to a synchronized tightening cycle beginning in 2022, with central banks pushing rates to multi-year highs. By mid-2024, as inflation moderated across major economies, central banks began implementing their first rate cuts in several years, with the U.S. Federal Reserve, Bank of England, and European Central Bank all easing monetary policy.

Graph and download economic data for Federal Funds Target Range - Lower Limit (DFEDTARL) from 2008-12-16 to 2025-11-30 about federal, interest rate, interest, rate, and USA.

United States - Federal Funds Effective Rate was 3.88% in November of 2025, according to the United States Federal Reserve. Historically, United States - Federal Funds Effective Rate reached a record high of 22.36 in July of 1981 and a record low of 0.04 in December of 2011. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Federal Funds Effective Rate - last updated from the United States Federal Reserve on December of 2025.

View daily updates and historical trends for Target Federal Funds Rate Upper Limit. from United States. Source: Federal Reserve. Track economic data with …

Graph and download economic data for FOMC Summary of Economic Projections for the Fed Funds Rate, Median (FEDTARMD) from 2025 to 2028 about projection, federal, median, rate, and USA.

Effective Federal Funds Rate in the United States increased to 3.89 percent on Friday November 28 from 3.88 in the previous day. This dataset includes a chart with historical data for the United States Effective Federal Funds Rate.

Federal Funds Rate - Historical chart and current data through 2025.

United States - Effective Federal Funds Volume was 89.00000 Bil. of U.S. $ in November of 2025, according to the United States Federal Reserve. Historically, United States - Effective Federal Funds Volume reached a record high of 144.00000 in June of 2023 and a record low of 34.00000 in December of 2020. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Effective Federal Funds Volume - last updated from the United States Federal Reserve on December of 2025.

View market daily updates and historical trends for Overnight Federal Funds Rate. from United States. Source: Federal Reserve. Track economic data with YC…

Graph and download economic data for Interest Rates: Immediate Rates (< 24 Hours): Federal Funds Rate: Total for United States (IRSTFR01USM156N) from Jan 1960 to Dec 2023 about federal, interest rate, interest, rate, and USA.

United States - Federal Funds Target Range - Upper Limit was 4.00% in December of 2025, according to the United States Federal Reserve. Historically, United States - Federal Funds Target Range - Upper Limit reached a record high of 5.50 in July of 2023 and a record low of 0.25 in December of 2008. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Federal Funds Target Range - Upper Limit - last updated from the United States Federal Reserve on December of 2025.

Effective Federal Funds Rate - Historical chart and current data through 2025.

Federal Funds Rates Based on 7 Simple Rules is a part of the Simple Monetary Policy Rules indicator of the Federal Reserve Bank of Cleveland.

View market daily updates and historical trends for US Discount Rate. from United States. Source: Federal Reserve. Track economic data with YCharts analyt…

The 'Fed Interest Rate Decision' is an economic event where the Federal Reserve announces changes to the federal funds rate, which is the interest rate at which banks lend to each other overnight.