Interest Rates · Fed funds
The effective fed funds rate minus CPI inflation over the past year: below zero, money is cheaper than inflation.
| Year | Average | Year close |
|---|---|---|
| 1954 | 1.26% | 1.65% |
| 1955 | 2.04% | 2.11% |
| 1956 | 1.25% | 0.11% |
| 1957 | −0.29% | −0.06% |
| 1958 | −1.16% | 0.66% |
| 1959 | 2.37% | 2.47% |
| 1960 | 1.72% | 0.62% |
| 1961 | 0.88% | 1.66% |
| 1962 | 1.53% | 1.70% |
| 1963 | 1.92% | 1.73% |
| 1964 | 2.17% | 2.65% |
| 1965 | 2.50% | 2.40% |
Source: FRED FEDFUNDS (Federal Funds Effective Rate); FRED CPIAUCSL (Consumer Price Index for All Urban Consumers: All Items in U.S. City Average). Federal Reserve Bank of St. Louis.
Gray bands mark U.S. recessions as dated by the NBER (FRED USREC).
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