The benchmark interest rate in the United States was last recorded at 4.25 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.

Graph and download economic data for Federal Funds Effective Rate (RIFSPFFNB) from 1954-07-01 to 2025-10-09 about funds, federal, interest rate, interest, rate, and USA.

United States - Federal Funds Effective Rate was 4.10% in October 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 October of 2025.

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. 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.

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

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: 99th Percentile was 4.18% in October 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 October of 2025.

United States - 10-Year Treasury Constant Maturity Minus Federal Funds Rate was 0.03% in September of 2025, according to the United States Federal Reserve. Historically, United States - 10-Year Treasury Constant Maturity Minus Federal Funds Rate reached a record high of 4.92 in November of 1975 and a record low of -9.57 in December of 1980. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - 10-Year Treasury Constant Maturity Minus Federal Funds Rate - last updated from the United States Federal Reserve on September of 2025.

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

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.

United States - Effective Federal Funds Rate: 1st Percentile was 4.08% in October 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 October of 2025.

United States - FOMC Summary of Economic Projections for the Fed Funds Rate, Central Tendency, Midpoint was 3.20% in January of 2028, according to the United States Federal Reserve. Historically, United States - FOMC Summary of Economic Projections for the Fed Funds Rate, Central Tendency, Midpoint reached a record high of 5.40 in January of 2023 and a record low of 0.10 in January of 2020. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - FOMC Summary of Economic Projections for the Fed Funds Rate, Central Tendency, Midpoint - last updated from the United States Federal Reserve on October of 2025.

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

United States - FOMC Summary of Economic Projections for the Fed Funds Rate, Median was 3.10% in January of 2028, according to the United States Federal Reserve. Historically, United States - FOMC Summary of Economic Projections for the Fed Funds Rate, Median reached a record high of 5.40 in January of 2023 and a record low of 0.10 in January of 2020. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - FOMC Summary of Economic Projections for the Fed Funds Rate, Median - last updated from the United States Federal Reserve on October of 2025.

Effective Federal Funds Rate in the United States increased to 4.10 percent on Wednesday October 8 from 4.09 in the previous day. This dataset includes a chart with historical data for the United States Effective Federal Funds Rate.

Graph and download economic data for Federal Funds Target Range - Upper Limit (DFEDTARU) from 2008-12-16 to 2025-10-15 about federal, interest rate, interest, rate, and USA.

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

United States - Effective Federal Funds Rate: 25th Percentile was 4.10% in October 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 October of 2025.

1-Year Treasury Minus Federal Funds Rate - Historical chart and current data through 2025.

Immediate Rates: Less than 24 Hours: Federal Funds Rate for the United States was 5.33% in January of 2023, according to the United States Federal Reserve. Historically, Immediate Rates: Less than 24 Hours: Federal Funds Rate for the United States reached a record high of 18.90 in January of 1980 and a record low of 0.07 in January of 2011. Trading Economics provides the current actual value, an historical data chart and related indicators for Immediate Rates: Less than 24 Hours: Federal Funds Rate for the United States - last updated from the United States Federal Reserve on September of 2025.