1-Year Treasury Constant Maturity Minus Federal Funds Rate (T1YFFM)

Observations

Jan 2026: -0.13
Updated: Feb 2, 2026 4:03 PM CST
Next Release Date: Feb 9, 2026
Jan 2026:  -0.13  
Dec 2025:  -0.19  
Nov 2025:  -0.22  
Oct 2025:  -0.47  
Sep 2025:  -0.57  
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Units:

Percent,
Not Seasonally Adjusted

Frequency:

Monthly

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Notes

Source: Federal Reserve Bank of St. Louis  

Release: Interest Rate Spreads

Units:  Percent, Not Seasonally Adjusted

Frequency:  Monthly

Notes:

Series is calculated as the spread between 1-Year Treasury Constant Maturity (BC_1YEARM) and Effective Federal Funds Rate (https://fred.stlouisfed.org/series/EFFRM).
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.

Suggested Citation:

Federal Reserve Bank of St. Louis, 1-Year Treasury Constant Maturity Minus Federal Funds Rate [T1YFFM], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/T1YFFM, .

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Daily, Not Seasonally Adjusted

Related Categories

Interest Rate Spreads Interest Rates Money, Banking, & Finance

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More Series from Interest Rate Spreads

Tags

Yield Curve 1-Year Spread Maturity Treasury Federal Interest Rate Interest St. Louis Fed Rate Copyrighted: Citation Required Monthly Nation United States of America Not Seasonally Adjusted

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