Federal Funds Effective Rate
The volume-weighted effective federal funds rate for overnight unsecured transactions. It is not the Federal Reserve's administered target range.
3.88
Percent
Federal Funds Effective Rate — latest reading: 3.88 percent. As of October 2026, it is unchanged over the past 12 months, above its 10-year average. Source: DFF, US Federal Reserve Board, published daily. Reported as published, without transformation; the publisher may revise it.
Min
0.04
Max
5.33
Average
1.83
10Y Percentile
70%
3M Change
+0.0%
Federal Funds Effective Rate (DFF) — 5000 observations from 2013-02-06 to 2026-10-15. Source: FRED, Federal Reserve Bank of St. Louis. Red shading indicates NBER recession periods.
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Revisions
None. Across the 12 most recent prints held in the vintage archive, Federal Funds Effective Rate was published once each and never restated. Market series behave this way; survey and sample-based statistics generally do not. How this is computed.
Macro Regime Context
The financial-conditions regime is currently neutral (97% confidence).
See what this means across all four regime dimensions →3-Month
+0.0%
6-Month
+0.0%
12-Month
+0.0%
What this means
Federal Funds Effective Rate is currently at 3.88 percent, which is above its 10-year historical average. The trend is stable (+0.0% over the past 3 months).
Over the past 6 months the change is +0.0%, and over 12 months it is +0.0%. The short-term pace is consistent with the longer trend.
Cite this page
MacroRadar, "Federal Funds Effective Rate," https://www.macroradar.io/federal-funds-effective-rate (as of October 2026).