Federal Funds Rate

The federal funds rate is the interest rate on overnight unsecured transactions in which eligible institutions borrow and lend reserve balances held at the Federal Reserve. supported

The Federal Open Market Committee sets a target range for the federal funds rate rather than directly fixing every transaction rate. supported

The effective federal funds rate is a market-based measure calculated and published by the New York Fed from actual federal funds transactions. supported

In the current ample-reserves framework, the Federal Reserve primarily steers the federal funds rate through administered rates such as interest on reserve balances and the overnight reverse repurchase facility. supported

Changes in the federal funds target range influence other short-term interest rates and broader financial conditions, affecting borrowing and spending decisions over time. supported

On September 16, 2026, the FOMC raised the target range for the federal funds rate by 0.25 percentage point to 3.75 to 4.00 percent, effective with implementation actions on September 17. supported

As part of the September 2026 implementation, the Federal Reserve raised interest on reserve balances to 3.90 percent and the primary credit rate to 4.00 percent. supported

The federal funds rate is the interest rate on overnight unsecured transactions in which eligible institutions borrow and lend reserve balances held at the Federal Reserve. supported

The Federal Open Market Committee sets a target range for the federal funds rate rather than directly fixing every transaction rate. supported

The effective federal funds rate is a market-based measure calculated and published by the New York Fed from actual federal funds transactions. supported

In the current ample-reserves framework, the Federal Reserve primarily steers the federal funds rate through administered rates such as interest on reserve balances and the overnight reverse repurchase facility. supported

Changes in the federal funds target range influence other short-term interest rates and broader financial conditions, affecting borrowing and spending decisions over time. supported

On September 16, 2026, the FOMC raised the target range for the federal funds rate by 0.25 percentage point to 3.75 to 4.00 percent, effective with implementation actions on September 17. supported

As part of the September 2026 implementation, the Federal Reserve raised interest on reserve balances to 3.90 percent and the primary credit rate to 4.00 percent. supported

The federal funds rate is the interest rate on overnight unsecured transactions in which eligible institutions borrow and lend reserve balances held at the Federal Reserve. supported

The Federal Open Market Committee sets a target range for the federal funds rate rather than directly fixing every transaction rate. supported

The effective federal funds rate is a market-based measure calculated and published by the New York Fed from actual federal funds transactions. supported

In the current ample-reserves framework, the Federal Reserve primarily steers the federal funds rate through administered rates such as interest on reserve balances and the overnight reverse repurchase facility. supported

Changes in the federal funds target range influence other short-term interest rates and broader financial conditions, affecting borrowing and spending decisions over time. supported

On September 16, 2026, the FOMC raised the target range for the federal funds rate by 0.25 percentage point to 3.75 to 4.00 percent, effective with implementation actions on September 17. supported

As part of the September 2026 implementation, the Federal Reserve raised interest on reserve balances to 3.90 percent and the primary credit rate to 4.00 percent. supported

The federal funds rate is the interest rate on overnight unsecured transactions in which eligible institutions borrow and lend reserve balances held at the Federal Reserve. supported

The Federal Open Market Committee sets a target range for the federal funds rate rather than directly fixing every transaction rate. supported

The effective federal funds rate is a market-based measure calculated and published by the New York Fed from actual federal funds transactions. supported

In the current ample-reserves framework, the Federal Reserve primarily steers the federal funds rate through administered rates such as interest on reserve balances and the overnight reverse repurchase facility. supported

Changes in the federal funds target range influence other short-term interest rates and broader financial conditions, affecting borrowing and spending decisions over time. supported

On September 16, 2026, the FOMC raised the target range for the federal funds rate by 0.25 percentage point to 3.75 to 4.00 percent, effective with implementation actions on September 17. supported

As part of the September 2026 implementation, the Federal Reserve raised interest on reserve balances to 3.90 percent and the primary credit rate to 4.00 percent. supported

The federal funds rate is the interest rate on overnight unsecured transactions in which eligible institutions borrow and lend reserve balances held at the Federal Reserve. supported

The Federal Open Market Committee sets a target range for the federal funds rate rather than directly fixing every transaction rate. supported

The effective federal funds rate is a market-based measure calculated and published by the New York Fed from actual federal funds transactions. supported

In the current ample-reserves framework, the Federal Reserve primarily steers the federal funds rate through administered rates such as interest on reserve balances and the overnight reverse repurchase facility. supported

Changes in the federal funds target range influence other short-term interest rates and broader financial conditions, affecting borrowing and spending decisions over time. supported

On September 16, 2026, the FOMC raised the target range for the federal funds rate by 0.25 percentage point to 3.75 to 4.00 percent, effective with implementation actions on September 17. supported

As part of the September 2026 implementation, the Federal Reserve raised interest on reserve balances to 3.90 percent and the primary credit rate to 4.00 percent. supported

The federal funds rate is the interest rate on overnight unsecured transactions in which eligible institutions borrow and lend reserve balances held at the Federal Reserve. supported

The Federal Open Market Committee sets a target range for the federal funds rate rather than directly fixing every transaction rate. supported

The effective federal funds rate is a market-based measure calculated and published by the New York Fed from actual federal funds transactions. supported

In the current ample-reserves framework, the Federal Reserve primarily steers the federal funds rate through administered rates such as interest on reserve balances and the overnight reverse repurchase facility. supported

Changes in the federal funds target range influence other short-term interest rates and broader financial conditions, affecting borrowing and spending decisions over time. supported

On September 16, 2026, the FOMC raised the target range for the federal funds rate by 0.25 percentage point to 3.75 to 4.00 percent, effective with implementation actions on September 17. supported

As part of the September 2026 implementation, the Federal Reserve raised interest on reserve balances to 3.90 percent and the primary credit rate to 4.00 percent. supported

The federal funds rate is the interest rate on overnight unsecured transactions in which eligible institutions borrow and lend reserve balances held at the Federal Reserve. supported

The Federal Open Market Committee sets a target range for the federal funds rate rather than directly fixing every transaction rate. supported

The effective federal funds rate is a market-based measure calculated and published by the New York Fed from actual federal funds transactions. supported

In the current ample-reserves framework, the Federal Reserve primarily steers the federal funds rate through administered rates such as interest on reserve balances and the overnight reverse repurchase facility. supported

Changes in the federal funds target range influence other short-term interest rates and broader financial conditions, affecting borrowing and spending decisions over time. supported

On September 16, 2026, the FOMC raised the target range for the federal funds rate by 0.25 percentage point to 3.75 to 4.00 percent, effective with implementation actions on September 17. supported

As part of the September 2026 implementation, the Federal Reserve raised interest on reserve balances to 3.90 percent and the primary credit rate to 4.00 percent. supported