View data of the Effective Federal Funds Rate, or the interest rate depository institutions charge each other for overnight loans of funds.

Series is calculated as the spread between 10-Year Treasury Constant Maturity (BC_10YEAR) and Effective Federal Funds Rate (https://fred.stlouisfed.org/series/EFFR). Starting with the update on June 21, 2019, the Treasury bond data used in calculating interest rate spreads is obtained directly from the U.S. Treasury Department (https://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yield).

Data for the period prior to 1994 come from the working paper "A New Federal Funds Rate Target Series: September 27, 1982 - December 31, 1993" (Thornton, Federal Reserve Bank of St. Louis, 2005, http://research.stlouisfed.org/wp/2005/2005-032.pdf). Due to an error in the paper values from April 2, 1986 - April 20, 1986 were adjusted manually to 7.3125%. Data from 1994 to the present are derived from FOMC meeting transcripts and FOMC meeting statements, http://www.federalreserve.gov/fomc/. Effective December 16, 2008, target rate is reported as a range. Current data at https://fred.stlouisfed.org/series/DFEDTARU and https://fred.stlouisfed.org/series/DFEDTARL

This series represents upper limit of the federal funds target range established by the Federal Open Market Committee. The data updated each day is the data effective as of that day.

Series is calculated as the spread between 5-Year Treasury Constant Maturity (BC_5YEAR) and Effective Federal Funds Rate (https://fred.stlouisfed.org/series/EFFR). Starting with the update on June 21, 2019, the Treasury bond data used in calculating interest rate spreads is obtained directly from the U.S. Treasury Department (https://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yield).

Series is calculated as the spread between 1-Year Treasury Constant Maturity (BC_1YEAR) and Effective Federal Funds Rate (https://fred.stlouisfed.org/series/DFF). Starting with the update on June 21, 2019, the Treasury bond data used in calculating interest rate spreads is obtained directly from the U.S. Treasury Department (https://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yield).

Source ID: FL072052006.Q For more information about the Flow of Funds tables, see the Financial Accounts Guide (https://www.federalreserve.gov/apps/fof/Default.aspx). With each quarterly release, the source may make major data and structural revisions to the series and tables. These changes are available in the Release Highlights (https://www.federalreserve.gov/apps/fof/FOFHighlight.aspx). In the Financial Accounts, the source identifies each series by a string of patterned letters and numbers. For a detailed description, including how this series is constructed, see the series analyzer (https://www.federalreserve.gov/apps/fof/SeriesAnalyzer.aspx?s=FL072052006&t=) provided by the source.

Series is calculated as the spread between 3-Month AA Financial Commercial Paper (RIFSPPFAAD90NB) and Effective Federal Funds Rate (https://fred.stlouisfed.org/series/DFF). Starting with the update on June 21, 2019, the Treasury bond data used in calculating interest rate spreads is obtained directly from the U.S. Treasury Department (https://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yield).

Series is calculated as the spread between Moody's Seasoned Baa Corporate Bond© (https://fred.stlouisfed.org/series/DBAA) and Effective Federal Funds Rate (https://fred.stlouisfed.org/series/EFFR). ©2017, Moody's Corporation, Moody's Investors Service, Inc., Moody's Analytics, Inc. and/or their licensors and affiliates (collectively, "Moody's"). All rights reserved. Moody's ratings and other information ("Moody's Information") are proprietary to Moody's and/or its licensors and are protected by copyright and other intellectual property laws. Moody's Information is licensed to Client by Moody's. MOODY'S INFORMATION MAY NOT BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. Starting with the update on June 21, 2019, the Treasury bond data used in calculating interest rate spreads is obtained directly from the U.S. Treasury Department (https://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yield).

This series represents lower limit of the federal funds target range established by the Federal Open Market Committee. The data updated each day is the data effective as of that day.

Series is calculated as the spread between Moody's Seasoned Aaa Corporate Bond© (https://fred.stlouisfed.org/series/DAAA) and Effective Federal Funds Rate (https://fred.stlouisfed.org/series/DFF). ©2017, Moody's Corporation, Moody's Investors Service, Inc., Moody's Analytics, Inc. and/or their licensors and affiliates (collectively, "Moody's"). All rights reserved. Moody's ratings and other information ("Moody's Information") are proprietary to Moody's and/or its licensors and are protected by copyright and other intellectual property laws. Moody's Information is licensed to Client by Moody's. MOODY'S INFORMATION MAY NOT BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. Starting with the update on June 21, 2019, the Treasury bond data used in calculating interest rate spreads is obtained directly from the U.S. Treasury Department (https://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yield).

Series is calculated as the spread between 3-Month Treasury Constant Maturity (BC_3MONTH) and Effective Federal Funds Rate (https://fred.stlouisfed.org/series/EFFR). Starting with the update on June 21, 2019, the Treasury bond data used in calculating interest rate spreads is obtained directly from the U.S. Treasury Department (https://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yield).

High value of the federal funds rate published in The Wall Street Journal as recorded by the authors. For some, but not all periods, the source identifies the data as an “offered” rate. For additional details, see Sriya Anbil, Mark Carlson, Christopher Hanes, and David C. Wheelock. “A New Daily Federal Funds Rate Series and History of the Federal Funds Market, 1928-1954.” ( https://research.stlouisfed.org/publications/review/2021/01/14/a-new-daily-federal-funds-rate-series-and-history-of-the-federal-funds-market-1928-54) Federal Reserve Bank of St. Louis Review, First Quarter 2021, 103(1), pp. 45-70.

Series is calculated as the spread between 6-Month Treasury Constant Maturity (BC_6MONTH) and Effective Federal Funds Rate (https://fred.stlouisfed.org/series/EFFR). Starting with the update on June 21, 2019, the Treasury bond data used in calculating interest rate spreads is obtained directly from the U.S. Treasury Department (https://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yield).

High values of the federal funds rate published in The New York Herald-Tribune as recorded by the authors. For some, but not all periods, the source identifies the observation as a “bid” rate. For additional details, see Sriya Anbil, Mark Carlson, Christopher Hanes, and David C. Wheelock. “A New Daily Federal Funds Rate Series and History of the Federal Funds Market, 1928-1954.” (https://research.stlouisfed.org/publications/review/2021/01/14/a-new-daily-federal-funds-rate-series-and-history-of-the-federal-funds-market-1928-54) Federal Reserve Bank of St. Louis Review, First Quarter 2021, 103(1), pp. 45-70.

OECD Descriptor ID: IRSTFR01 OECD unit ID: PC OECD country ID: USA All OECD data should be cited as follows: OECD, "Main Economic Indicators - complete database", Main Economic Indicators (database), https://dx.doi.org/10.1787/data-00052-en (Accessed on date) Copyright, 2016, OECD. Reprinted with permission

Low values of the federal funds rate published in The Wall Street Journal as recorded by the authors. For some, but not all periods, the source identifies the data as a “bid” rate. For additional details, see Sriya Anbil, Mark Carlson, Christopher Hanes, and David C. Wheelock. “A New Daily Federal Funds Rate Series and History of the Federal Funds Market, 1928-1954.” (https://research.stlouisfed.org/publications/review/2021/01/14/a-new-daily-federal-funds-rate-series-and-history-of-the-federal-funds-market-1928-54) Federal Reserve Bank of St. Louis Review, First Quarter 2021, 103(1), pp. 45-70.

Low values of the federal funds rate published in The New York Herald-Tribune as recorded by the authors. For some, but not all periods, the source identifies the observation as a “bid” rate. For additional details, see Sriya Anbil, Mark Carlson, Christopher Hanes, and David C. Wheelock. “A New Daily Federal Funds Rate Series and History of the Federal Funds Market, 1928-1954.” (https://research.stlouisfed.org/publications/review/2021/01/14/a-new-daily-federal-funds-rate-series-and-history-of-the-federal-funds-market-1928-54) Federal Reserve Bank of St. Louis Review, First Quarter 2021, 103(1), pp. 45-70.

OECD Descriptor ID: IRSTFR01 OECD unit ID: PC OECD country ID: BRA All OECD data should be cited as follows: OECD, "Main Economic Indicators - complete database", Main Economic Indicators (database), https://dx.doi.org/10.1787/data-00052-en (Accessed on date) Copyright, 2016, OECD. Reprinted with permission