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By the Numbers
Federal funds rate
The monthly average of the effective federal funds rate, the overnight rate at which banks lend reserves to each other.
Latest (October 2026)3.88%Percent
A year earlier (October 2025)4.09%-0.21 points from a year earlier
High since January 20006.54%July 2000
Low since January 20000.05%April 2020
Federal funds rate
Percent. Monthly data.
The last 24 months
| Month | Value | Change |
|---|---|---|
| October 2026 | 3.88% | +0.13 pts |
| September 2026 | 3.75% | +0.12 pts |
| August 2026 | 3.63% | 0.00 pts |
| July 2026 | 3.63% | 0.00 pts |
| June 2026 | 3.63% | 0.00 pts |
| May 2026 | 3.63% | -0.01 pts |
| April 2026 | 3.64% | 0.00 pts |
| March 2026 | 3.64% | 0.00 pts |
| February 2026 | 3.64% | 0.00 pts |
| January 2026 | 3.64% | -0.08 pts |
| December 2025 | 3.72% | -0.16 pts |
| November 2025 | 3.88% | -0.21 pts |
| October 2025 | 4.09% | -0.13 pts |
| September 2025 | 4.22% | -0.11 pts |
| August 2025 | 4.33% | 0.00 pts |
| July 2025 | 4.33% | 0.00 pts |
| June 2025 | 4.33% | 0.00 pts |
| May 2025 | 4.33% | 0.00 pts |
| April 2025 | 4.33% | 0.00 pts |
| March 2025 | 4.33% | 0.00 pts |
| February 2025 | 4.33% | 0.00 pts |
| January 2025 | 4.33% | -0.15 pts |
| December 2024 | 4.48% | -0.16 pts |
| November 2024 | 4.64% | -0.19 pts |
Sources: Board of Governors of the Federal Reserve System, H.15 Selected Interest Rates, FRED, Federal Reserve Bank of St. Louis (FEDFUNDS). Updated November 9, 2026. Latest figure: October 2026. Figures are as published and may be revised by the source.
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