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.

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.

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 benchmark interest rate in Japan was last recorded at 0.50 percent. This dataset provides - Japan Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The benchmark interest rate in India was last recorded at 5.50 percent. This dataset provides - India Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The benchmark interest rate in Russia was last recorded at 17 percent. This dataset provides the latest reported value for - Russia Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

United States Interest Rate Swaps: Mth Avg: 30 Year data was reported at 3.241 % pa in Oct 2018. This records an increase from the previous number of 3.082 % pa for Sep 2018. United States Interest Rate Swaps: Mth Avg: 30 Year data is updated monthly, averaging 4.268 % pa from Jul 2000 (Median) to Oct 2018, with 220 observations. The data reached an all-time high of 7.199 % pa in Jul 2000 and a record low of 1.751 % pa in Aug 2016. United States Interest Rate Swaps: Mth Avg: 30 Year data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s United States – Table US.M014: Interest Rate: Swaps Rates.

The benchmark interest rate in the United Kingdom was last recorded at 4 percent. This dataset provides - United Kingdom Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

United States Interest Rate Swaps: Mth Avg: 2 Year data was reported at 3.054 % pa in Oct 2018. This records an increase from the previous number of 2.939 % pa for Sep 2018. United States Interest Rate Swaps: Mth Avg: 2 Year data is updated monthly, averaging 1.806 % pa from Jul 2000 (Median) to Oct 2018, with 220 observations. The data reached an all-time high of 7.119 % pa in Jul 2000 and a record low of 0.374 % pa in Apr 2013. United States Interest Rate Swaps: Mth Avg: 2 Year data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s United States – Table US.M014: Interest Rate: Swaps Rates.

Content

The STLFSI measures the degree of financial stress in the markets and is constructed from 18 weekly data series: seven interest rate series, six yield spreads and five other indicators. Each of these variables captures some aspect of financial stress. Accordingly, as the level of financial stress in the economy changes, the data series are likely to move together.

How to Interpret the Index: The average value of the index, which begins in late 1993, is designed to be zero. Thus, zero is viewed as representing normal financial market conditions. Values below zero suggest below-average financial market stress, while values above zero suggest above-average financial market stress.

More information: For additional information on the STLFSI and its construction, see "Measuring Financial Market Stress" (https://files.stlouisfed.org/research/publications/es/10/ES1002.pdf) and the related appendix (https://files.stlouisfed.org/files/htdocs/publications/net/NETJan2010Appendix.pdf).

See this list (https://www.stlouisfed.org/news-releases/st-louis-fed-financial-stress-index/stlfsi-key) of the components that are used to construct the STLFSI.

As of 07/15/2010 the Vanguard Financial Exchange-Traded Fund series has been replaced with the S&P 500 Financials Index. This change was made to facilitate a more timely and automated updating of the FSI. Switching from the Vanguard series to the S&P series produced no meaningful change in the index.

Copyright, 2016, Federal Reserve Bank of St. Louis.

Context

This is a dataset from the Federal Reserve Bank of St. Louis hosted by the Federal Reserve Economic Database (FRED). FRED has a data platform found here and they update their information according to the frequency that the data updates. Explore the Federal Reserve Bank of St. Louis using Kaggle and all of the data sources available through the St. Louis Fed organization page!

• Update Frequency: This dataset is updated daily.

• Observation Start: 1993-12-31

• Observation End : 2019-11-29

Acknowledgements

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

Cover photo by Laura Lefurgey-Smith on Unsplash
Unsplash Images are distributed under a unique Unsplash License.

The benchmark interest rate in Canada was last recorded at 2.50 percent. This dataset provides - Canada Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The benchmark interest rate in China was last recorded at 3 percent. This dataset provides the latest reported value for - China Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

United States FB: AS: Incl IBF: Memo: RT: Floating Interest Rates data was reported at 236.947 USD bn in Dec 2019. This records an increase from the previous number of 231.494 USD bn for Sep 2019. United States FB: AS: Incl IBF: Memo: RT: Floating Interest Rates data is updated quarterly, averaging 223.933 USD bn from Mar 2013 (Median) to Dec 2019, with 28 observations. The data reached an all-time high of 245.981 USD bn in Mar 2016 and a record low of 152.566 USD bn in Mar 2013. United States FB: AS: Incl IBF: Memo: RT: Floating Interest Rates data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s United States – Table US.KB043: Balance Sheet: Foreign Banks: All States.

United States FB: AS: Incl IBF: Memo: RL: Predetermined Interest Rates data was reported at 67.418 USD bn in Dec 2019. This records an increase from the previous number of 60.878 USD bn for Sep 2019. United States FB: AS: Incl IBF: Memo: RL: Predetermined Interest Rates data is updated quarterly, averaging 52.910 USD bn from Mar 2013 (Median) to Dec 2019, with 28 observations. The data reached an all-time high of 67.418 USD bn in Dec 2019 and a record low of 41.462 USD bn in Jun 2013. United States FB: AS: Incl IBF: Memo: RL: Predetermined Interest Rates data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s United States – Table US.KB043: Balance Sheet: Foreign Banks: All States.

United States FB: NY: Incl IBF: Memo: RL: Predetermined Interest Rates data was reported at 47.812 USD bn in Dec 2019. This records an increase from the previous number of 42.543 USD bn for Sep 2019. United States FB: NY: Incl IBF: Memo: RL: Predetermined Interest Rates data is updated quarterly, averaging 37.663 USD bn from Mar 2013 (Median) to Dec 2019, with 28 observations. The data reached an all-time high of 47.812 USD bn in Dec 2019 and a record low of 28.940 USD bn in Jun 2013. United States FB: NY: Incl IBF: Memo: RL: Predetermined Interest Rates data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s United States – Table US.KB044: Balance Sheet: Foreign Banks: New York.

Graph and download economic data for Inflation, consumer prices for the United States (FPCPITOTLZGUSA) from 1960 to 2024 about consumer, CPI, inflation, price index, indexes, price, and USA.

United States FB: Incl IBF: CA: Memo: RT: Floating Interest Rates data was reported at 6.993 USD bn in Dec 2019. This records an increase from the previous number of 6.902 USD bn for Sep 2019. United States FB: Incl IBF: CA: Memo: RT: Floating Interest Rates data is updated quarterly, averaging 6.129 USD bn from Mar 2013 (Median) to Dec 2019, with 28 observations. The data reached an all-time high of 7.085 USD bn in Sep 2016 and a record low of 4.960 USD bn in Jun 2014. United States FB: Incl IBF: CA: Memo: RT: Floating Interest Rates data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s United States – Table US.KB045: Balance Sheet: Foreign Banks: California.

United States FB: IL: Incl IBF: Memo: RL: Predetermined Interest Rates data was reported at 15.722 USD bn in Dec 2019. This records an increase from the previous number of 14.420 USD bn for Sep 2019. United States FB: IL: Incl IBF: Memo: RL: Predetermined Interest Rates data is updated quarterly, averaging 10.908 USD bn from Mar 2013 (Median) to Dec 2019, with 28 observations. The data reached an all-time high of 15.722 USD bn in Dec 2019 and a record low of 6.807 USD bn in Mar 2013. United States FB: IL: Incl IBF: Memo: RL: Predetermined Interest Rates data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s United States – Table US.KB046: Balance Sheet: Foreign Banks: Illinois.

United States FB: Incl IBF: CA: Memo: RL: Floating Interest Rates data was reported at 2.493 USD bn in Dec 2019. This records an increase from the previous number of 2.251 USD bn for Sep 2019. United States FB: Incl IBF: CA: Memo: RL: Floating Interest Rates data is updated quarterly, averaging 2.722 USD bn from Mar 2013 (Median) to Dec 2019, with 28 observations. The data reached an all-time high of 3.673 USD bn in Dec 2015 and a record low of 1.910 USD bn in Mar 2019. United States FB: Incl IBF: CA: Memo: RL: Floating Interest Rates data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s United States – Table US.KB045: Balance Sheet: Foreign Banks: California.