Indicators · Money and rates · DFF
Federal Funds Effective Rate
The overnight rate at which banks trade balances held at Federal Reserve Banks.
Percent
3.88
0.00 vs
History
Effective federal funds rate Percent
3.88 14 Oct 2026
Yuan per US dollar Chinese Yuan Renminbi to One U.S. Dollar
6.692 9 Oct 2026
5-year, 5-year forward inflation expectation Percent
2.31 15 Oct 2026
1Y shown as daily observations. Compared series are drawn in separate panels on the same time axis, each with its own scale and units.
How to read it
- What it measures
- A volume-weighted median of the overnight rates at which depository institutions trade federal funds, from transaction-level data they report to the Federal Reserve. Published in the H.15 release.
- What moves it
- It is essentially determined by the market. The Federal Reserve steers it toward the target range determined by its Federal Open Market Committee, mainly through the interest rate it pays on banks' reserve balances.
- What it does not show
- It is the rate between banks, not the rate households or businesses pay, though it influences rates such as the prime rate and, indirectly, longer-term rates.
- Revisions
- A daily series. Capisaga keeps every stored version, so a later correction is a new version, not an overwrite.
Freshness
- Update frequency
- Daily, 7-day
- Last observation
- Last checked
- Last retrieved
“Last checked” is when the pipeline last fetched this series from the source, whether or not anything changed. “Last retrieved” is when it last stored a new or revised value.
Source
Source: Board of Governors of the Federal Reserve System via FRED
Board of Governors of the Federal Reserve System (US), Federal Funds Effective Rate [DFF], retrieved from FRED, Federal Reserve Bank of St. Louis on 16 Oct 2026.
Copyright status (per FRED): public domain: citation requested.