About the federal funds rate
The federal funds rate is the interest rate banks charge each other for overnight loans of reserves. The Federal Reserve’s Federal Open Market Committee (FOMC) sets a target range for it at its eight scheduled meetings a year, and the effective rate (the volume-weighted average of actual trades) stays inside that range. The chart shows the effective rate as a monthly average.
Changes in the fed funds rate pass through to the prime rate, credit cards, savings accounts, money market funds and, less directly, to mortgage rates and bond yields. The Fed raises the rate to cool inflation and cuts it to support growth and jobs.
Federal Funds Rate by year
| Year | Average | High | Low | December / latest |
|---|---|---|---|---|
| 2026 (to Sep) | 3.65% | 3.75% | 3.63% | 3.75% |
| 2025 | 4.21% | 4.33% | 3.72% | 3.72% |
| 2024 | 5.14% | 5.33% | 4.48% | 4.48% |
| 2023 | 5.02% | 5.33% | 4.33% | 5.33% |
| 2022 | 1.68% | 4.10% | 0.08% | 4.10% |
| 2021 | 0.08% | 0.10% | 0.06% | 0.08% |
| 2020 | 0.38% | 1.58% | 0.05% | 0.09% |
| 2019 | 2.16% | 2.42% | 1.55% | 1.55% |
| 2018 | 1.83% | 2.27% | 1.41% | 2.27% |
| 2017 | 1.00% | 1.30% | 0.65% | 1.30% |
| 2016 | 0.40% | 0.54% | 0.34% | 0.54% |
| 2015 | 0.13% | 0.24% | 0.11% | 0.24% |
| 2014 | 0.09% | 0.12% | 0.07% | 0.12% |
| 2013 | 0.11% | 0.15% | 0.08% | 0.09% |
| 2012 | 0.14% | 0.16% | 0.08% | 0.16% |
| 2011 | 0.10% | 0.17% | 0.07% | 0.07% |
| 2010 | 0.17% | 0.20% | 0.11% | 0.18% |
| 2009 | 0.16% | 0.22% | 0.12% | 0.12% |
| 2008 | 1.93% | 3.94% | 0.16% | 0.16% |
| 2007 | 5.02% | 5.26% | 4.24% | 4.24% |
| 2006 | 4.96% | 5.25% | 4.29% | 5.24% |
| 2005 | 3.21% | 4.16% | 2.28% | 4.16% |
| 2004 | 1.35% | 2.16% | 1.00% | 2.16% |
| 2003 | 1.13% | 1.26% | 0.98% | 0.98% |
| 2002 | 1.67% | 1.75% | 1.24% | 1.24% |
| 2001 | 3.89% | 5.98% | 1.82% | 1.82% |
| 2000 | 6.24% | 6.54% | 5.45% | 6.40% |
| 1999 | 4.97% | 5.42% | 4.63% | 5.30% |
| 1998 | 5.35% | 5.56% | 4.68% | 4.68% |
| 1997 | 5.46% | 5.56% | 5.19% | 5.50% |
Monthly values. The last 30 years are shown; the chart above has the full history since July 1954.
Add this chart to your website
Free for any website, personal or commercial. Choose the options, copy the code and paste it into your page; the chart updates by itself every day.
Live preview
Please keep the two links in the code visible and unchanged. Data: public-domain US government statistics via FRED, refreshed daily. See the widget guide for all options.
Frequently asked questions
What is the current federal funds rate?
The federal funds rate was 3.75% in September 2026, down 0.47 points from a year earlier, according to the Board of Governors of the Federal Reserve System. Target 3.75–4.00% since Sep 17, 2026.
What was the highest federal funds rate on record?
Since July 1954, the highest reading was 19.10% in June 1981 and the lowest was 0.05% in April 2020.
Where does this data come from?
The numbers are published by the Board of Governors of the Federal Reserve System and distributed by the Federal Reserve Bank of St. Louis in FRED (series FEDFUNDS). They are US government statistics in the public domain. Quotelinks checks for new data every day.
Can I put this federal funds rate chart on my website?
Yes. The chart is free for any website, personal or commercial. Copy the embed code from the section above and paste it into your page; it updates automatically. Please keep the two links in the code visible.
Related charts
- 10-Year Treasury Yield5.14% · Oct 2026
- 2-Year Treasury Yield4.75% · Oct 2026
- 30-Year Treasury Yield5.48% · Oct 2026
- 3-Month Treasury Bill Rate4.23% · Oct 2026
Related calculators
- Fed Funds Rate HistoryEvery Fed hike and cut, and today’s target range.
- Cash vs Inflation CalculatorHow cash in a money market fund did against inflation.
See all 27 economic charts or get the Economic Chart widget for any of them.