Chart: Federal funds effective rate, 1955–2023

Federal funds effective rate, 1955–2023

Date	Federal funds effective rate
Jan-1955	1.39
Feb-1955	1.29
Mar-1955	1.35
Apr-1955	1.43
May-1955	1.43
Jun-1955	1.64
Jul-1955	1.68
Aug-1955	1.96
Sep-1955	2.18
Oct-1955	2.24
Nov-1955	2.35
Dec-1955	2.48
Jan-1956	2.45
Feb-1956	2.50
Mar-1956	2.50
Apr-1956	2.62
May-1956	2.75
Jun-1956	2.71
Jul-1956	2.75
Aug-1956	2.73
Sep-1956	2.95
Oct-1956	2.96
Nov-1956	2.88
Dec-1956	2.94
Jan-1957	2.84
Feb-1957	3.00
Mar-1957	2.96
Apr-1957	3.00
May-1957	3.00
Jun-1957	3.00
Jul-1957	2.99
Aug-1957	3.24
Sep-1957	3.47
Oct-1957	3.50
Nov-1957	3.28
Dec-1957	2.98
Jan-1958	2.72
Feb-1958	1.67
Mar-1958	1.20
Apr-1958	1.26
May-1958	0.63
Jun-1958	0.93
Jul-1958	0.68
Aug-1958	1.53
Sep-1958	1.76
Oct-1958	1.80
Nov-1958	2.27
Dec-1958	2.42
Jan-1959	2.48
Feb-1959	2.43
Mar-1959	2.80
Apr-1959	2.96
May-1959	2.90
Jun-1959	3.39
Jul-1959	3.47
Aug-1959	3.50
Sep-1959	3.76
Oct-1959	3.98
Nov-1959	4.00
Dec-1959	3.99
Jan-1960	3.99
Feb-1960	3.97
Mar-1960	3.84
Apr-1960	3.92
May-1960	3.85
Jun-1960	3.32
Jul-1960	3.23
Aug-1960	2.98
Sep-1960	2.60
Oct-1960	2.47
Nov-1960	2.44
Dec-1960	1.98
Jan-1961	1.45
Feb-1961	2.54
Mar-1961	2.02
Apr-1961	1.49
May-1961	1.98
Jun-1961	1.73
Jul-1961	1.17
Aug-1961	2.00
Sep-1961	1.88
Oct-1961	2.26
Nov-1961	2.61
Dec-1961	2.33
Jan-1962	2.15
Feb-1962	2.37
Mar-1962	2.85
Apr-1962	2.78
May-1962	2.36
Jun-1962	2.68
Jul-1962	2.71
Aug-1962	2.93
Sep-1962	2.90
Oct-1962	2.90
Nov-1962	2.94
Dec-1962	2.93
Jan-1963	2.92
Feb-1963	3.00
Mar-1963	2.98
Apr-1963	2.90
May-1963	3.00
Jun-1963	2.99
Jul-1963	3.02
Aug-1963	3.49
Sep-1963	3.48
Oct-1963	3.50
Nov-1963	3.48
Dec-1963	3.38
Jan-1964	3.48
Feb-1964	3.48
Mar-1964	3.43
Apr-1964	3.47
May-1964	3.50
Jun-1964	3.50
Jul-1964	3.42
Aug-1964	3.50
Sep-1964	3.45
Oct-1964	3.36
Nov-1964	3.52
Dec-1964	3.85
Jan-1965	3.90
Feb-1965	3.98
Mar-1965	4.05
Apr-1965	4.09
May-1965	4.10
Jun-1965	4.05
Jul-1965	4.09
Aug-1965	4.12
Sep-1965	4.02
Oct-1965	4.08
Nov-1965	4.10
Dec-1965	4.32
Jan-1966	4.42
Feb-1966	4.60
Mar-1966	4.66
Apr-1966	4.67
May-1966	4.90
Jun-1966	5.17
Jul-1966	5.30
Aug-1966	5.53
Sep-1966	5.40
Oct-1966	5.53
Nov-1966	5.76
Dec-1966	5.40
Jan-1967	4.94
Feb-1967	5.00
Mar-1967	4.53
Apr-1967	4.05
May-1967	3.94
Jun-1967	3.98
Jul-1967	3.79
Aug-1967	3.90
Sep-1967	3.99
Oct-1967	3.88
Nov-1967	4.13
Dec-1967	4.51
Jan-1968	4.61
Feb-1968	4.71
Mar-1968	5.05
Apr-1968	5.76
May-1968	6.12
Jun-1968	6.07
Jul-1968	6.03
Aug-1968	6.03
Sep-1968	5.78
Oct-1968	5.91
Nov-1968	5.82
Dec-1968	6.02
Jan-1969	6.30
Feb-1969	6.61
Mar-1969	6.79
Apr-1969	7.41
May-1969	8.67
Jun-1969	8.90
Jul-1969	8.61
Aug-1969	9.19
Sep-1969	9.15
Oct-1969	9.00
Nov-1969	8.85
Dec-1969	8.97
Jan-1970	8.98
Feb-1970	8.98
Mar-1970	7.76
Apr-1970	8.10
May-1970	7.95
Jun-1970	7.61
Jul-1970	7.21
Aug-1970	6.62
Sep-1970	6.29
Oct-1970	6.20
Nov-1970	5.60
Dec-1970	4.90
Jan-1971	4.14
Feb-1971	3.72
Mar-1971	3.71
Apr-1971	4.16
May-1971	4.63
Jun-1971	4.91
Jul-1971	5.31
Aug-1971	5.57
Sep-1971	5.55
Oct-1971	5.20
Nov-1971	4.91
Dec-1971	4.14
Jan-1972	3.51
Feb-1972	3.30
Mar-1972	3.83
Apr-1972	4.17
May-1972	4.27
Jun-1972	4.46
Jul-1972	4.55
Aug-1972	4.81
Sep-1972	4.87
Oct-1972	5.05
Nov-1972	5.06
Dec-1972	5.33
Jan-1973	5.94
Feb-1973	6.58
Mar-1973	7.09
Apr-1973	7.12
May-1973	7.84
Jun-1973	8.49
Jul-1973	10.40
Aug-1973	10.50
Sep-1973	10.78
Oct-1973	10.01
Nov-1973	10.03
Dec-1973	9.95
Jan-1974	9.65
Feb-1974	8.97
Mar-1974	9.35
Apr-1974	10.51
May-1974	11.31
Jun-1974	11.93
Jul-1974	12.92
Aug-1974	12.01
Sep-1974	11.34
Oct-1974	10.06
Nov-1974	9.45
Dec-1974	8.53
Jan-1975	7.13
Feb-1975	6.24
Mar-1975	5.54
Apr-1975	5.49
May-1975	5.22
Jun-1975	5.55
Jul-1975	6.10
Aug-1975	6.14
Sep-1975	6.24
Oct-1975	5.82
Nov-1975	5.22
Dec-1975	5.20
Jan-1976	4.87
Feb-1976	4.77
Mar-1976	4.84
Apr-1976	4.82
May-1976	5.29
Jun-1976	5.48
Jul-1976	5.31
Aug-1976	5.29
Sep-1976	5.25
Oct-1976	5.02
Nov-1976	4.95
Dec-1976	4.65
Jan-1977	4.61
Feb-1977	4.68
Mar-1977	4.69
Apr-1977	4.73
May-1977	5.35
Jun-1977	5.39
Jul-1977	5.42
Aug-1977	5.90
Sep-1977	6.14
Oct-1977	6.47
Nov-1977	6.51
Dec-1977	6.56
Jan-1978	6.70
Feb-1978	6.78
Mar-1978	6.79
Apr-1978	6.89
May-1978	7.36
Jun-1978	7.60
Jul-1978	7.81
Aug-1978	8.04
Sep-1978	8.45
Oct-1978	8.96
Nov-1978	9.76
Dec-1978	10.03
Jan-1979	10.07
Feb-1979	10.06
Mar-1979	10.09
Apr-1979	10.01
May-1979	10.24
Jun-1979	10.29
Jul-1979	10.47
Aug-1979	10.94
Sep-1979	11.43
Oct-1979	13.77
Nov-1979	13.18
Dec-1979	13.78
Jan-1980	13.82
Feb-1980	14.13
Mar-1980	17.19
Apr-1980	17.61
May-1980	10.98
Jun-1980	9.47
Jul-1980	9.03
Aug-1980	9.61
Sep-1980	10.87
Oct-1980	12.81
Nov-1980	15.85
Dec-1980	18.90
Jan-1981	19.08
Feb-1981	15.93
Mar-1981	14.70
Apr-1981	15.72
May-1981	18.52
Jun-1981	19.10
Jul-1981	19.04
Aug-1981	17.82
Sep-1981	15.87
Oct-1981	15.08
Nov-1981	13.31
Dec-1981	12.37
Jan-1982	13.22
Feb-1982	14.78
Mar-1982	14.68
Apr-1982	14.94
May-1982	14.45
Jun-1982	14.15
Jul-1982	12.59
Aug-1982	10.12
Sep-1982	10.31
Oct-1982	9.71
Nov-1982	9.20
Dec-1982	8.95
Jan-1983	8.68
Feb-1983	8.51
Mar-1983	8.77
Apr-1983	8.80
May-1983	8.63
Jun-1983	8.98
Jul-1983	9.37
Aug-1983	9.56
Sep-1983	9.45
Oct-1983	9.48
Nov-1983	9.34
Dec-1983	9.47
Jan-1984	9.56
Feb-1984	9.59
Mar-1984	9.91
Apr-1984	10.29
May-1984	10.32
Jun-1984	11.06
Jul-1984	11.23
Aug-1984	11.64
Sep-1984	11.30
Oct-1984	9.99
Nov-1984	9.43
Dec-1984	8.38
Jan-1985	8.35
Feb-1985	8.50
Mar-1985	8.58
Apr-1985	8.27
May-1985	7.97
Jun-1985	7.53
Jul-1985	7.88
Aug-1985	7.90
Sep-1985	7.92
Oct-1985	7.99
Nov-1985	8.05
Dec-1985	8.27
Jan-1986	8.14
Feb-1986	7.86
Mar-1986	7.48
Apr-1986	6.99
May-1986	6.85
Jun-1986	6.92
Jul-1986	6.56
Aug-1986	6.17
Sep-1986	5.89
Oct-1986	5.85
Nov-1986	6.04
Dec-1986	6.91
Jan-1987	6.43
Feb-1987	6.10
Mar-1987	6.13
Apr-1987	6.37
May-1987	6.85
Jun-1987	6.73
Jul-1987	6.58
Aug-1987	6.73
Sep-1987	7.22
Oct-1987	7.29
Nov-1987	6.69
Dec-1987	6.77
Jan-1988	6.83
Feb-1988	6.58
Mar-1988	6.58
Apr-1988	6.87
May-1988	7.09
Jun-1988	7.51
Jul-1988	7.75
Aug-1988	8.01
Sep-1988	8.19
Oct-1988	8.30
Nov-1988	8.35
Dec-1988	8.76
Jan-1989	9.12
Feb-1989	9.36
Mar-1989	9.85
Apr-1989	9.84
May-1989	9.81
Jun-1989	9.53
Jul-1989	9.24
Aug-1989	8.99
Sep-1989	9.02
Oct-1989	8.84
Nov-1989	8.55
Dec-1989	8.45
Jan-1990	8.23
Feb-1990	8.24
Mar-1990	8.28
Apr-1990	8.26
May-1990	8.18
Jun-1990	8.29
Jul-1990	8.15
Aug-1990	8.13
Sep-1990	8.20
Oct-1990	8.11
Nov-1990	7.81
Dec-1990	7.31
Jan-1991	6.91
Feb-1991	6.25
Mar-1991	6.12
Apr-1991	5.91
May-1991	5.78
Jun-1991	5.90
Jul-1991	5.82
Aug-1991	5.66
Sep-1991	5.45
Oct-1991	5.21
Nov-1991	4.81
Dec-1991	4.43
Jan-1992	4.03
Feb-1992	4.06
Mar-1992	3.98
Apr-1992	3.73
May-1992	3.82
Jun-1992	3.76
Jul-1992	3.25
Aug-1992	3.30
Sep-1992	3.22
Oct-1992	3.10
Nov-1992	3.09
Dec-1992	2.92
Jan-1993	3.02
Feb-1993	3.03
Mar-1993	3.07
Apr-1993	2.96
May-1993	3.00
Jun-1993	3.04
Jul-1993	3.06
Aug-1993	3.03
Sep-1993	3.09
Oct-1993	2.99
Nov-1993	3.02
Dec-1993	2.96
Jan-1994	3.05
Feb-1994	3.25
Mar-1994	3.34
Apr-1994	3.56
May-1994	4.01
Jun-1994	4.25
Jul-1994	4.26
Aug-1994	4.47
Sep-1994	4.73
Oct-1994	4.76
Nov-1994	5.29
Dec-1994	5.45
Jan-1995	5.53
Feb-1995	5.92
Mar-1995	5.98
Apr-1995	6.05
May-1995	6.01
Jun-1995	6.00
Jul-1995	5.85
Aug-1995	5.74
Sep-1995	5.80
Oct-1995	5.76
Nov-1995	5.80
Dec-1995	5.60
Jan-1996	5.56
Feb-1996	5.22
Mar-1996	5.31
Apr-1996	5.22
May-1996	5.24
Jun-1996	5.27
Jul-1996	5.40
Aug-1996	5.22
Sep-1996	5.30
Oct-1996	5.24
Nov-1996	5.31
Dec-1996	5.29
Jan-1997	5.25
Feb-1997	5.19
Mar-1997	5.39
Apr-1997	5.51
May-1997	5.50
Jun-1997	5.56
Jul-1997	5.52
Aug-1997	5.54
Sep-1997	5.54
Oct-1997	5.50
Nov-1997	5.52
Dec-1997	5.50
Jan-1998	5.56
Feb-1998	5.51
Mar-1998	5.49
Apr-1998	5.45
May-1998	5.49
Jun-1998	5.56
Jul-1998	5.54
Aug-1998	5.55
Sep-1998	5.51
Oct-1998	5.07
Nov-1998	4.83
Dec-1998	4.68
Jan-1999	4.63
Feb-1999	4.76
Mar-1999	4.81
Apr-1999	4.74
May-1999	4.74
Jun-1999	4.76
Jul-1999	4.99
Aug-1999	5.07
Sep-1999	5.22
Oct-1999	5.20
Nov-1999	5.42
Dec-1999	5.30
Jan-2000	5.45
Feb-2000	5.73
Mar-2000	5.85
Apr-2000	6.02
May-2000	6.27
Jun-2000	6.53
Jul-2000	6.54
Aug-2000	6.50
Sep-2000	6.52
Oct-2000	6.51
Nov-2000	6.51
Dec-2000	6.40
Jan-2001	5.98
Feb-2001	5.49
Mar-2001	5.31
Apr-2001	4.80
May-2001	4.21
Jun-2001	3.97
Jul-2001	3.77
Aug-2001	3.65
Sep-2001	3.07
Oct-2001	2.49
Nov-2001	2.09
Dec-2001	1.82
Jan-2002	1.73
Feb-2002	1.74
Mar-2002	1.73
Apr-2002	1.75
May-2002	1.75
Jun-2002	1.75
Jul-2002	1.73
Aug-2002	1.74
Sep-2002	1.75
Oct-2002	1.75
Nov-2002	1.34
Dec-2002	1.24
Jan-2003	1.24
Feb-2003	1.26
Mar-2003	1.25
Apr-2003	1.26
May-2003	1.26
Jun-2003	1.22
Jul-2003	1.01
Aug-2003	1.03
Sep-2003	1.01
Oct-2003	1.01
Nov-2003	1.00
Dec-2003	0.98
Jan-2004	1.00
Feb-2004	1.01
Mar-2004	1.00
Apr-2004	1.00
May-2004	1.00
Jun-2004	1.03
Jul-2004	1.26
Aug-2004	1.43
Sep-2004	1.61
Oct-2004	1.76
Nov-2004	1.93
Dec-2004	2.16
Jan-2005	2.28
Feb-2005	2.50
Mar-2005	2.63
Apr-2005	2.79
May-2005	3.00
Jun-2005	3.04
Jul-2005	3.26
Aug-2005	3.50
Sep-2005	3.62
Oct-2005	3.78
Nov-2005	4.00
Dec-2005	4.16
Jan-2006	4.29
Feb-2006	4.49
Mar-2006	4.59
Apr-2006	4.79
May-2006	4.94
Jun-2006	4.99
Jul-2006	5.24
Aug-2006	5.25
Sep-2006	5.25
Oct-2006	5.25
Nov-2006	5.25
Dec-2006	5.24
Jan-2007	5.25
Feb-2007	5.26
Mar-2007	5.26
Apr-2007	5.25
May-2007	5.25
Jun-2007	5.25
Jul-2007	5.26
Aug-2007	5.02
Sep-2007	4.94
Oct-2007	4.76
Nov-2007	4.49
Dec-2007	4.24
Jan-2008	3.94
Feb-2008	2.98
Mar-2008	2.61
Apr-2008	2.28
May-2008	1.98
Jun-2008	2.00
Jul-2008	2.01
Aug-2008	2.00
Sep-2008	1.81
Oct-2008	0.97
Nov-2008	0.39
Dec-2008	0.16
Jan-2009	0.15
Feb-2009	0.22
Mar-2009	0.18
Apr-2009	0.15
May-2009	0.18
Jun-2009	0.21
Jul-2009	0.16
Aug-2009	0.16
Sep-2009	0.15
Oct-2009	0.12
Nov-2009	0.12
Dec-2009	0.12
Jan-2010	0.11
Feb-2010	0.13
Mar-2010	0.16
Apr-2010	0.20
May-2010	0.20
Jun-2010	0.18
Jul-2010	0.18
Aug-2010	0.19
Sep-2010	0.19
Oct-2010	0.19
Nov-2010	0.19
Dec-2010	0.18
Jan-2011	0.17
Feb-2011	0.16
Mar-2011	0.14
Apr-2011	0.10
May-2011	0.09
Jun-2011	0.09
Jul-2011	0.07
Aug-2011	0.10
Sep-2011	0.08
Oct-2011	0.07
Nov-2011	0.08
Dec-2011	0.07
Jan-2012	0.08
Feb-2012	0.10
Mar-2012	0.13
Apr-2012	0.14
May-2012	0.16
Jun-2012	0.16
Jul-2012	0.16
Aug-2012	0.13
Sep-2012	0.14
Oct-2012	0.16
Nov-2012	0.16
Dec-2012	0.16
Jan-2013	0.14
Feb-2013	0.15
Mar-2013	0.14
Apr-2013	0.15
May-2013	0.11
Jun-2013	0.09
Jul-2013	0.09
Aug-2013	0.08
Sep-2013	0.08
Oct-2013	0.09
Nov-2013	0.08
Dec-2013	0.09
Jan-2014	0.07
Feb-2014	0.07
Mar-2014	0.08
Apr-2014	0.09
May-2014	0.09
Jun-2014	0.10
Jul-2014	0.09
Aug-2014	0.09
Sep-2014	0.09
Oct-2014	0.09
Nov-2014	0.09
Dec-2014	0.12
Jan-2015	0.11
Feb-2015	0.11
Mar-2015	0.11
Apr-2015	0.12
May-2015	0.12
Jun-2015	0.13
Jul-2015	0.13
Aug-2015	0.14
Sep-2015	0.14
Oct-2015	0.12
Nov-2015	0.12
Dec-2015	0.24
Jan-2016	0.34
Feb-2016	0.38
Mar-2016	0.36
Apr-2016	0.37
May-2016	0.37
Jun-2016	0.38
Jul-2016	0.39
Aug-2016	0.40
Sep-2016	0.40
Oct-2016	0.40
Nov-2016	0.41
Dec-2016	0.54
Jan-2017	0.65
Feb-2017	0.66
Mar-2017	0.79
Apr-2017	0.90
May-2017	0.91
Jun-2017	1.04
Jul-2017	1.15
Aug-2017	1.16
Sep-2017	1.15
Oct-2017	1.15
Nov-2017	1.16
Dec-2017	1.30
Jan-2018	1.41
Feb-2018	1.42
Mar-2018	1.51
Apr-2018	1.69
May-2018	1.70
Jun-2018	1.82
Jul-2018	1.91
Aug-2018	1.91
Sep-2018	1.95
Oct-2018	2.19
Nov-2018	2.20
Dec-2018	2.27
Jan-2019	2.40
Feb-2019	2.40
Mar-2019	2.41
Apr-2019	2.42
May-2019	2.39
Jun-2019	2.38
Jul-2019	2.40
Aug-2019	2.13
Sep-2019	2.04
Oct-2019	1.83
Nov-2019	1.55
Dec-2019	1.55
Jan-2020	1.55
Feb-2020	1.58
Mar-2020	0.65
Apr-2020	0.05
May-2020	0.05
Jun-2020	0.08
Jul-2020	0.09
Aug-2020	0.10
Sep-2020	0.09
Oct-2020	0.09
Nov-2020	0.09
Dec-2020	0.09
Jan-2021	0.09
Feb-2021	0.08
Mar-2021	0.07
Apr-2021	0.07
May-2021	0.06
Jun-2021	0.08
Jul-2021	0.10
Aug-2021	0.09
Sep-2021	0.08
Oct-2021	0.08
Nov-2021	0.08
Dec-2021	0.08
Jan-2022	0.08
Feb-2022	0.08
Mar-2022	0.20
Apr-2022	0.33
May-2022	0.77
Jun-2022	1.21
Jul-2022	1.68
Aug-2022	2.33
Sep-2022	2.56
Oct-2022	3.08
Nov-2022	3.78
Dec-2022	4.10
Jan-2023	4.33
Feb-2023	4.57
Mar-2023	4.65
Apr-2023	4.83
May-2023	5.06
Jun-2023	5.08
Jul-2023	5.12
Aug-2023	5.33
Sep-2023	5.33
Oct-2023	5.33
Nov-2023	5.33
Dec-2023	5.33

Source: Board of Governors of the Federal Reserve System (US), Federal Funds Effective Rate [FEDFUNDS], retrieved from FRED.

View the underlying data on epi.org.