Federal Funds Rate
US Federal Funds Rate — Historical Chart
3.63%
▼ 16.17% YoYJul 2026
All-Time High
19.10%
All-Time Low
0.05%
Data Since
1954
Source: FRED / Federal ReserveShaded = NBER recessions
The federal funds rate is the interest rate at which banks lend reserves to each other overnight. Set by the Federal Reserve's FOMC, it is the most important interest rate in the US economy and directly influences all other borrowing costs.