Federal funds effective rate (percentage points) - United States - FED Board - Daily
This series is part of the dataset: US money market rates (FED Board)
Download Full Dataset (.xlsx)Latest updates. In US money markets, the effective interest rate on Federal funds was 4.09 percent on 29 September 2025, the same value recorded on 26 September 2025.
Sample. In the daily series displayed in the figure, there are 17,919 records. The time span covered by the series stretches from July 1954 to September 2025.
History. Here's a peek at a few descriptive statistics we calculated on the full sample: the interest rate peaked at 22.36 percent on 22 July 1981; it reached its minimum of 0.04 on 30 December 2011; it was equal on average to 4.61.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-09-25 | 4.09 |
| 2025-09-26 | 4.09 |
| 2025-09-29 | 4.09 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Federal funds effective rate |
| Country | United States |
| Economic concept | Interest rate |
| Data type | Interest rate |
| Deflation method | Nominal |
| Seasonally adjusted | No |
| Rescaling | None |
| Frequency | Daily |
| Unit | Percentage points |
| Source | Board of Governors of the Federal Reserve System |
| Source type | Central bank |
| Data licence | Licence to copy and distribute without permission |
| Measure type | Level |
Series in the same data set: Fed funds
| Series Name | Observations | Start Date | End Date |
|---|---|---|---|
| Federal funds effective rate (percentage points) - United States - FED Board - Daily | 17919 | 1954-07-01 | 2025-09-29 |
Series in the same data set: Commercial paper
| Series Name | Observations | Start Date | End Date |
|---|---|---|---|
| 30-Day AA Nonfinancial Commercial Paper Interest Rate (percentage points) - United States - FED Board - Daily | 6775 | 1997-01-02 | 2025-09-29 |
| 60-Day AA Nonfinancial Commercial Paper Interest Rate (percentage points) - United States - FED Board - Daily | 6048 | 1997-01-02 | 2025-09-29 |
| 90-Day AA Nonfinancial Commercial Paper Interest Rate (percentage points) - United States - FED Board - Daily | 5214 | 1997-01-02 | 2025-09-26 |
| 30-Day AA Financial Commercial Paper Interest Rate (percentage points) - United States - FED Board - Daily | 6000 | 1997-01-02 | 2025-09-25 |
| 60-Day AA Financial Commercial Paper Interest Rate (percentage points) - United States - FED Board - Daily | 5732 | 1997-01-02 | 2025-09-29 |
| 90-Day AA Financial Commercial Paper Interest Rate (percentage points) - United States - FED Board - Daily | 6619 | 1997-01-02 | 2025-09-22 |
Series in the same data set: Prime bank rate
| Series Name | Observations | Start Date | End Date |
|---|---|---|---|
| Prime rate charged by banks on short-term loans to business (percentage points) - United States - FED Board - Weekly | 17878 | 1955-08-04 | 2025-09-29 |
Series in the same data set: Treasury bills
| Series Name | Observations | Start Date | End Date |
|---|---|---|---|
| 4-week Treasury bill secondary market rate (percentage points) - United States - FED Board - Daily | 6043 | 2001-07-31 | 2025-09-29 |
| 3-month Treasury bill secondary market rate (percentage points) - United States - FED Board - Daily | 17927 | 1954-01-04 | 2025-09-29 |
| 6-month Treasury bill secondary market rate (percentage points) - United States - FED Board - Daily | 16687 | 1958-12-09 | 2025-09-29 |
| 1-year Treasury bill secondary market rate (percentage points) - United States - FED Board - Daily | 14851 | 1959-07-15 | 2025-09-29 |