Effective Federal Funds Rate (EFFR)
Effective Federal Funds Rate — Historical Chart
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Sign Up FreeUnderstanding Effective Federal Funds Rate
Effective Federal Funds Rate (FRED series EFFR) is a daily economic indicator measured in percent. The series is published through FRED, the Federal Reserve Bank of St. Louis economic database, with history going back to 2000.
Why it matters: Effective Federal Funds Rate is one of the indicators traders, economists, and policymakers watch within the economic complex. Analysts use it to track conditions in the US economy and to anticipate shifts in growth, inflation, and policy.
How to read it: focus on the direction and persistence of changes rather than any single daily print. Comparing the latest value against its level a year ago, and against its long-run range since 2000, gives a better sense of whether the series is signaling acceleration, deceleration, or a turning point.
About This Series
For additional historical federal funds rate data, please see Daily Federal Funds Rate from 1928-1954 (https://fred.stlouisfed.org/categories/33951). The federal funds market consists of domestic unsecured borrowings in U.S. dollars by depository institutions from other depository institutions and certain other entities, primarily government-sponsored enterprises. The effective federal funds rate (EFFR) is calculated as a volume-weighted median of overnight federal funds transactions reported in the FR 2420 Report of Selected Money Market Rates. For more information, visit the Federal Reserve Bank of New York (https://www.newyorkfed.org/markets/obfrinfo).
Recent Data
| Date | Value (%) | Change |
|---|---|---|
| June 9, 2026 | 3.62% | +0 |
| June 8, 2026 | 3.62% | +0 |
| June 5, 2026 | 3.62% | +0 |
| June 4, 2026 | 3.62% | +0 |
| June 3, 2026 | 3.62% | +0 |
| June 2, 2026 | 3.62% | +0 |
| June 1, 2026 | 3.62% | +0 |
| May 29, 2026 | 3.62% | +0 |
| May 28, 2026 | 3.62% | +0 |
| May 27, 2026 | 3.62% | +0 |
| May 26, 2026 | 3.62% | +0 |
| May 22, 2026 | 3.62% | +0 |
Frequently Asked Questions
What is Effective Federal Funds Rate today?
The latest value of Effective Federal Funds Rate (EFFR) is shown at the top of this page, along with its observation date and the change from the prior reading. Data is sourced from FRED and refreshed regularly.
How often is Effective Federal Funds Rate updated?
Effective Federal Funds Rate is reported daily (Daily). New observations appear on FRED shortly after the source agency releases them, and this page updates daily.
What does a rising Effective Federal Funds Rate mean?
A sustained rise in Effective Federal Funds Rate signals strengthening readings in this economic measure, in percent. Whether that is positive or negative for markets depends on context — compare the move against the series’ trend and related indicators in the same category.
Where does the EFFR data come from?
The data comes from FRED® (Federal Reserve Economic Data), maintained by the Federal Reserve Bank of St. Louis, under series ID EFFR. History is available back to 2000.
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Data sourced from FRED®, Federal Reserve Bank of St. Louis: Effective Federal Funds Rate (EFFR). Retrieved from fred.stlouisfed.org. Last updated June 10, 2026.