Federal Funds Effective Rate 3.63 for
Federal Funds Effective Rate came in at 3.63 (Percent) for Wk of Aug 26 2026, unchanged from 3.63 the prior week and 16.17% below its level of 4.33 one year ago. The series has averaged 4.6 since 1954, reaching a record high of 20.06 in January 1981 and a record low of 0.04 in April 2020.
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⋮ | ⋮ |
|---|---|
| August 26, 2026 | 3.63 |
| August 19, 2026 | 3.63 |
| August 12, 2026 | 3.63 |
| August 5, 2026 | 3.63 |
| July 29, 2026 | 3.63 |
| July 22, 2026 | 3.63 |
| July 15, 2026 | 3.62 |
| July 8, 2026 | 3.63 |
| July 1, 2026 | 3.63 |
| June 24, 2026 | 3.63 |
| June 17, 2026 | 3.62 |
| June 10, 2026 | 3.62 |
| June 3, 2026 | 3.62 |
| May 27, 2026 | 3.62 |
| May 20, 2026 | 3.63 |
| May 13, 2026 | 3.63 |
| May 6, 2026 | 3.64 |
| April 29, 2026 | 3.64 |
| April 22, 2026 | 3.64 |
| April 15, 2026 | 3.64 |
⋮ | ⋮ |
|---|---|
| August 1, 1990 | 8.03 |
| July 25, 1990 | 8.05 |
| July 18, 1990 | 8.14 |
| July 11, 1990 | 8.28 |
| July 4, 1990 | 8.33 |
| June 27, 1990 | 8.28 |
| June 20, 1990 | 8.28 |
| June 13, 1990 | 8.3 |
| June 6, 1990 | 8.26 |
| May 30, 1990 | 8.19 |
| May 23, 1990 | 8.22 |
| May 16, 1990 | 8.16 |
| May 9, 1990 | 8.2 |
| May 2, 1990 | 8.12 |
| April 25, 1990 | 8.24 |
| April 18, 1990 | 8.27 |
| April 11, 1990 | 8.25 |
| April 4, 1990 | 8.33 |
| March 28, 1990 | 8.26 |
| March 21, 1990 | 8.27 |
About Federal Funds Effective Rate
What it measures
The federal funds effective rate (FRED series FF) is the volume-weighted median rate on overnight unsecured loans of reserve balances between banks. It is the operational target of US monetary policy, steered by the Federal Open Market Committee through a target range. The New York Fed computes it from transaction data, and this weekly series averages the daily figures.
Why it matters
Nearly every dollar interest rate keys off the funds rate: money market yields, floating-rate loans, and expectations embedded across the Treasury curve. Changes in the FOMC target range are the primary lever of monetary policy, so the effective rate documents the actual stance of policy and anchors valuation models through the risk-free short rate.
How to read it
The rate normally sits inside the FOMC target range; drift toward the top of the range can signal reserve scarcity. Across modern history it has spanned from near zero, held there for years after 2008 and 2020, to nearly twenty percent in the early 1980s. Read changes as deliberate policy moves rather than market-driven fluctuations, since the Fed engineers the level.
Get Federal Funds Effective Rate in Excel
Pull Federal Funds Effective Rate directly into your spreadsheet with a single MarketXLS formula - always current, no copy-pasting:
=FederalFundsRate()View the Federal Funds Rate formula documentation or browse all 100+ Economic Data functions.
Frequently Asked Questions
What is the current Federal Funds Effective Rate?
Federal Funds Effective Rate is 3.63 (Percent) as of August 2026.
What is the all-time high and low of Federal Funds Effective Rate?
The highest value on record is 20.06 (January 1981) and the lowest is 0.04 (April 2020).
How often is Federal Funds Effective Rate updated?
Federal Funds Effective Rate is published on a weekly basis, sourced from Federal Reserve Economic Data (FRED).
How do I get Federal Funds Effective Rate in Excel?
Use the MarketXLS Excel formula =FederalFundsRate() to pull Federal Funds Effective Rate directly into any cell, with historical values available for analysis.
Stats
| Last Value | 3.63 |
| Latest Period | Wk of Aug 26 2026 |
| Last Updated | August 27 2026, 03:18 |
| Value Previous Week | 3.63 |
| Change From Previous Week | 0.00% |
| Value 1 Year Ago | 4.33 |
| Change From Year Ago | -16.17% |
| Average Growth Rate | 1.80%/yr |
| Record High (Jan 1981) | 20.06 |
| Record Low (Apr 2020) | 0.04 |
| Long-Term Average | 4.6 |
| Frequency | Weekly |
| Adjustment | Not Seasonally Adjusted |
| Unit | Percent |
Annual Averages
| 2026 | 3.63 |
| 2025 | 4.21 |
| 2024 | 5.16 |
| 2023 | 5.02 |
| 2022 | 1.66 |
| 2021 | 0.08 |
| 2020 | 0.39 |
| 2019 | 2.17 |
| 2018 | 1.82 |
| 2017 | 1 |
| 2016 | 0.39 |
| 2015 | 0.13 |
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