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Line

Federal Funds Rate

Effective federal funds rate, %

3.88% on Oct 20, 2026−3.15 pp since Jul 3, 2000
YTD1y2y5y10y20yAll
Forecast availableOffContinuationForesight™
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U.S. recessionsShades the months the NBER dates as recession. U.S. charts only.5-year rangeThe highest and lowest readings of the last five years, as a band. One-series charts only.High and lowMarks the highest and lowest readings in the window shown.
Current·Data to Oct 20, 2026

Plays the chart through its history. Pauses are where the data set a record or moved most.

The overnight rate banks charge each other, which the Federal Reserve steers to set monetary policy. Steps up and down mark the Fed’s tightening and easing cycles.

What this chart reads

Sources

Effective Federal Funds Rate. Source: The Federal Reserve Bank of New York calculates the rate from overnight transactions reported on the FR 2420 form. Palanor pulls this series from the FRED API nightly.

Charts are drawn from Palanor's signal library and recomputed from source data on every view. Transformations (changes, indexing, year-on-year rates) are Palanor's.

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