Graph and download economic data for Federal Funds Effective Rate (RIFSPFFNB) from 1954-07-01 to 2025-08-04 about funds, federal, interest rate, interest, rate, and USA.

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

United States - Effective Federal Funds Rate was 4.33% in July of 2025, according to the United States Federal Reserve. Historically, United States - Effective Federal Funds Rate reached a record high of 7.03 in July of 2000 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 - Effective Federal Funds Rate - last updated from the United States Federal Reserve on July of 2025.

Content

More details about each file are in the individual file descriptions.

Context

This is a dataset hosted by the Federal Reserve Economic Database (FRED). The organization has a data platform found here and they update their information according the amount of data that is brought in. Explore FRED using Kaggle and all of the data sources available through the FRED organization page!

• Update Frequency: This dataset is updated daily.

Acknowledgements

This dataset is maintained using FRED's APIs and Kaggle's API.

Cover photo by Abraham Osorio on Unsplash
Unsplash Images are distributed under a unique Unsplash License.

Graph and download economic data for Federal Funds Target Range - Upper Limit (DFEDTARU) from 2008-12-16 to 2025-08-13 about federal, interest rate, interest, rate, and USA.

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 throughout the following months. 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.

Effective Federal Funds Rate in the United States remained unchanged at 4.33 percent on Thursday August 7. This dataset includes a chart with historical data for the United States Effective Federal Funds Rate.

Graph and download economic data for FOMC Summary of Economic Projections for the Fed Funds Rate, Range, Low (FEDTARRL) from 2025 to 2027 about projection, federal, rate, and USA.

Graph and download economic data for Effective Federal Funds Rate: 99th Percentile (EFFR99) from 2016-03-01 to 2025-08-04 about percentile, federal, rate, and USA.

Graph and download economic data for Effective Federal Funds Volume (EFFRVOL) from 2016-03-01 to 2025-08-13 about federal and USA.

United States - Effective Federal Funds Rate: 1st Percentile was 4.31% in July of 2025, according to the United States Federal Reserve. Historically, United States - Effective Federal Funds Rate: 1st Percentile reached a record high of 5.31 in December of 2023 and a record low of 0.01 in March of 2020. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Effective Federal Funds Rate: 1st Percentile - last updated from the United States Federal Reserve on July of 2025.

United States - Effective Federal Funds Rate: 25th Percentile was 4.33% in August of 2025, according to the United States Federal Reserve. Historically, United States - Effective Federal Funds Rate: 25th Percentile reached a record high of 5.33 in March of 2024 and a record low of 0.03 in April of 2021. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Effective Federal Funds Rate: 25th Percentile - last updated from the United States Federal Reserve on August of 2025.

United States - Effective Federal Funds Rate: 75th Percentile was 4.33% in August of 2025, according to the United States Federal Reserve. Historically, United States - Effective Federal Funds Rate: 75th Percentile reached a record high of 5.35 in December of 2023 and a record low of 0.05 in April of 2020. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Effective Federal Funds Rate: 75th Percentile - last updated from the United States Federal Reserve on August of 2025.

Graph and download economic data for Effective Federal Funds Rate: 1st Percentile (EFFR1) from 2016-03-01 to 2025-08-14 about percentile, federal, rate, and USA.

United States - Effective Federal Funds Rate: 99th Percentile was 4.40% in August of 2025, according to the United States Federal Reserve. Historically, United States - Effective Federal Funds Rate: 99th Percentile reached a record high of 5.65 in July of 2023 and a record low of 0.09 in September of 2021. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Effective Federal Funds Rate: 99th Percentile - last updated from the United States Federal Reserve on August of 2025.

Graph and download economic data for Effective Federal Funds Rate: 25th Percentile (EFFR25) from 2016-03-01 to 2025-07-23 about percentile, federal, rate, and USA.

Graph and download economic data for Interest Rates and Price Indexes; Effective Federal Funds Rate (Percent), Level (BOGZ1FL072052006Q) from Q3 1954 to Q1 2025 about federal, assets, interest rate, interest, rate, price index, indexes, price, and USA.

Graph and download economic data for Effective Federal Funds Rate: 75th Percentile (EFFR75) from 2016-03-01 to 2025-08-14 about percentile, federal, rate, and USA.

Graph and download economic data for Federal Funds Target Range - Lower Limit (DFEDTARL) from 2008-12-16 to 2025-07-28 about federal, interest rate, interest, rate, and USA.

Graph and download economic data for 10-Year Treasury Constant Maturity Minus Federal Funds Rate (T10YFF) from 1962-01-02 to 2025-08-14 about yield curve, spread, 10-year, maturity, Treasury, federal, interest rate, interest, rate, and USA.