As of | Daily effective (chart uses monthly averages from 1954)
Mean
4.59%
Median
4.25%
Min
0.05%
Max
19.10%
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No chart history is available for this series.
Date
Rate
3.88
3.63
3.63
3.63
3.63
3.64
3.64
3.64
3.64
3.72
3.88
4.09
4.22
4.33
4.33
4.33
4.33
4.33
4.33
4.33
4.33
4.48
4.64
4.83
About fed funds
The effective federal funds rate is 3.88% as of Sep 17, 2026. The latest value comes from the daily FRED DFF series; the long history uses monthly FEDFUNDS data. These are official Federal Reserve data, republished through FRED.
From Jul 1, 1954 to Sep 17, 2026 (867 months): mean 4.59%, median 4.25%; low 0.05% (Apr 1, 2020), high 19.10% (Jun 1, 1981). Not a mortgage, CD, or prime rate.
The EFFR measures unsecured overnight funding in US dollars. Since the observation for 1 March 2016, it has been a volume-weighted median; earlier observations used a volume-weighted mean. It is a market rate, distinct from the FOMC’s policy target range. This page’s latest value uses daily DFF; its long history and summary statistics use monthly FEDFUNDS, beginning in 1954.
Read the latest value together with its observation date. The change compares it with the previous observation; when a policy rate is unchanged, the last actual move is shown where available. Percentage points measure the difference between two rates; a percentage change measures that difference relative to the earlier value. The summary statistics describe the history used on this page, not a forecast or a separate official aggregate.
The chart and table present the same series, with the newest table entries first. Range controls filter the chart without changing the data or recalculating the summary statistics. Explore enables zoom and pan. A policy rate, a market benchmark and a retail survey average are different measures; none is a personal loan or deposit offer.