Federal funds target range
The policy rate range set by the Federal Reserve.
- Latest
- 3.75–4.00%
- Previous
- 3.50–3.75%
- Change
- +0.25 pp
- Frequency
- Daily
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Federal funds target range
The policy rate range set by the Federal Reserve.
- Fed funds target
- 3.75–4.00%
Data table
| Period | Fed funds target |
|---|---|
| 21 Oct 2026 | 4.00% |
| 20 Oct 2026 | 4.00% |
| 19 Oct 2026 | 4.00% |
| 18 Oct 2026 | 4.00% |
| 17 Oct 2026 | 4.00% |
| 16 Oct 2026 | 4.00% |
| 15 Oct 2026 | 4.00% |
| 14 Oct 2026 | 4.00% |
| 13 Oct 2026 | 4.00% |
| 12 Oct 2026 | 4.00% |
| 11 Oct 2026 | 4.00% |
| 10 Oct 2026 | 4.00% |
About this indicator
- What it measures
- The upper and lower limits of the target range for the federal funds rate, set by the Federal Open Market Committee (FOMC). The chart line is the upper limit.
- How it is calculated
- As announced by the FOMC. The range has been 0.25 percentage points wide since December 2008, when the Fed moved from a single target to a range.
- How to read it
- Raising the range makes borrowing dearer across the economy to slow inflation; cutting it supports spending and jobs.
- Caveats
- The series starts in December 2008. For earlier history see the effective federal funds rate.
- Frequency
- Daily
- Typical release
- Changes take effect after FOMC meetings, eight scheduled a year (decisions at 2:00 p.m. Eastern time).
Sources
- Federal Funds Target Range - Upper Limit View at the source (opens in a new tab)
- Federal Funds Target Range - Lower Limit View at the source (opens in a new tab)
Recent observations
Newest first. For a calculated figure, the source value it comes from is shown beside it.
| Period | Fed funds target | First recorded here |
|---|---|---|
| 21 Oct 2026 | 4.00% | 21 Oct 2026 |
| 20 Oct 2026 | 4.00% | 20 Oct 2026 |
| 19 Oct 2026 | 4.00% | 20 Oct 2026 |
| 18 Oct 2026 | 4.00% | 20 Oct 2026 |
| 17 Oct 2026 | 4.00% | 20 Oct 2026 |
| 16 Oct 2026 | 4.00% | 20 Oct 2026 |
| 15 Oct 2026 | 4.00% | 20 Oct 2026 |
| 14 Oct 2026 | 4.00% | 20 Oct 2026 |
| 13 Oct 2026 | 4.00% | 20 Oct 2026 |
| 12 Oct 2026 | 4.00% | 20 Oct 2026 |
| 11 Oct 2026 | 4.00% | 20 Oct 2026 |
| 10 Oct 2026 | 4.00% | 20 Oct 2026 |
| 9 Oct 2026 | 4.00% | 20 Oct 2026 |
| 8 Oct 2026 | 4.00% | 20 Oct 2026 |
| 7 Oct 2026 | 4.00% | 20 Oct 2026 |
| 6 Oct 2026 | 4.00% | 20 Oct 2026 |
| 5 Oct 2026 | 4.00% | 20 Oct 2026 |
| 4 Oct 2026 | 4.00% | 20 Oct 2026 |
| 3 Oct 2026 | 4.00% | 20 Oct 2026 |
| 2 Oct 2026 | 4.00% | 20 Oct 2026 |
| 1 Oct 2026 | 4.00% | 20 Oct 2026 |
| 30 Sep 2026 | 4.00% | 20 Oct 2026 |
| 29 Sep 2026 | 4.00% | 20 Oct 2026 |
| 28 Sep 2026 | 4.00% | 20 Oct 2026 |
Revisions
We record a revision when a value we already hold changes at the source. Tracking began on 20 Oct 2026, so revisions made before then are not shown, and figures are in the source's own units.
No revisions detected
No stored value has changed since tracking began.
Related indicators
United States · Interest rates and rate expectations