Interest Rates · Fed funds

Fed Funds Target Range (since 2008)

Name: Fed Funds Target Range (since 2008)
Creator: Federal Reserve Bank of St. Louis (FRED)

Upper limit: 4.00% (Oct 6, 2026).
A year earlier: 4.25% (Oct 6, 2025), a change of −0.25 pts.
Highest on record here: 5.50% (Jul 27, 2023); lowest: 0.25% (Dec 16, 2008).

Year	Average	Year close
2008	0.25%	0.25%
2009	0.25%	0.25%
2010	0.25%	0.25%
2011	0.25%	0.25%
2012	0.25%	0.25%
2013	0.25%	0.25%
2014	0.25%	0.25%
2015	0.26%	0.50%
2016	0.51%	0.75%
2017	1.10%	1.50%
2018	1.91%	2.50%
2019	2.28%	1.75%

Source: FRED DFEDTARU (Federal Funds Target Range - Upper Limit); FRED DFEDTARL (Federal Funds Target Range - Lower Limit); FRED EFFR (Effective Federal Funds Rate). Federal Reserve Bank of St. Louis.

Gray bands mark U.S. recessions as dated by the NBER (FRED USREC).

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