Fed policy interest rate
Fed policy interest rate and key US money market rates from the Federal Reserve.
| Indicator | 27-09-2026 | 26-09-2026 | 25-09-2026 | 24-09-2026 | 23-09-2026 | 22-09-2026 | 21-09-2026 | 20-09-2026 | 19-09-2026 | 18-09-2026 | 17-09-2026 | 16-09-2026 | 15-09-2026 | 14-09-2026 | 13-09-2026 | 12-09-2026 | 11-09-2026 | 10-09-2026 | 09-09-2026 | 08-09-2026 | 07-09-2026 | 06-09-2026 | 05-09-2026 | 04-09-2026 | 03-09-2026 | 02-09-2026 | 01-09-2026 | 31-08-2026 | 30-08-2026 | 29-08-2026 | 28-08-2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Target interest rate - upper bound | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | ||
| Target interest rate - lower bound | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.5 | 3.5 | 3.5 | 3.5 | 3.5 | 3.5 | 3.5 | 3.5 | 3.5 | 3.5 | 3.5 | 3.5 | 3.5 | 3.5 | 3.5 | 3.5 | 3.5 | 3.5 | 3.5 | 3.5 | ||
| Effective federal funds interest rate (H.15, from 1954) | 3.88 | 3.88 | 3.88 | 3.88 | 3.88 | 3.88 | 3.88 | 3.88 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | ||||
| Effective federal funds interest rate (EFFR) | 3.88 | 3.88 | 3.88 | 3.88 | 3.88 | 3.88 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | |||||||||||||
| Secured overnight financing interest rate (SOFR) | 3.88 | 3.87 | 3.87 | 3.85 | 3.85 | 3.85 | 3.62 | 3.64 | 3.62 | 3.62 | 3.62 | 3.64 | 3.64 | 3.65 | 3.66 | 3.65 | 3.66 | 3.68 | 3.65 | |||||||||||||
| Overnight bank funding interest rate (OBFR) | 3.88 | 3.88 | 3.88 | 3.88 | 3.88 | 3.88 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | |||||||||||||
| Interest rate on reserve balances (IORB) | 3.9 | 3.9 | 3.9 | 3.9 | 3.9 | 3.9 | 3.9 | 3.9 | 3.9 | 3.9 | 3.9 | 3.65 | 3.65 | 3.65 | 3.65 | 3.65 | 3.65 | 3.65 | 3.65 | 3.65 | 3.65 | 3.65 | 3.65 | 3.65 | 3.65 | 3.65 | 3.65 | 3.65 | 3.65 | 3.65 | 3.65 |
Latest reading
Effective federal funds interest rate (EFFR) stood at 3.88 %/year in Sep 24, 2026. That is unchanged from Sep 23, 2026 and −0.2 pp from a year earlier. The series on this page is daily and runs from Jul 3, 2000 to Sep 24, 2026. Source: FRED (Federal Reserve Bank of St. Louis).
- Latest
- 3.88 %/year
- Sep 24, 2026
- vs previous period
- 0.0 pp
- Sep 23, 2026
- vs a year earlier
- −0.2 pp
Look up any date
Pick a date between Jul 1, 1954 and Sep 27, 2026 to see every series in this table on that day. If there is no reading that day (weekend, holiday, or a weekly release), the last reading before it is shown.
About this data
Fed policy interest rate and key US money market rates from the Federal Reserve. This table includes the target range upper and lower bounds, effective federal funds rate, SOFR, and IORB. It provides daily data since 1954 from FRED. These rates reflect the central bank's stance and short-term borrowing costs.
Frequently asked questions
- What is the Fed policy interest rate?
- The Fed policy interest rate refers to the target range set by the Federal Open Market Committee for the federal funds rate, guiding short-term borrowing costs in the United States.
- How often is this data published and how far back does it go?
- This table is updated daily by the Federal Reserve Bank of St. Louis, with historical time series for the effective federal funds rate extending back to 1954.
- Which specific interest rates are included in the table?
- The table includes the target interest rate upper and lower bounds, effective federal funds rate, secured overnight financing rate (SOFR), overnight bank funding rate, and interest on reserve balances.
- How do EFFR and SOFR differ?
- The effective federal funds rate covers unsecured borrowing among depository institutions, whereas the secured overnight financing rate captures transactions secured by United States government bonds.
