Federal Reserve tracker

Fed Interest Rate Today

Today's Effective Federal Funds Rate, with the latest published value, recent history, and context for what the benchmark means for US financial conditions.

Sources

What is the Fed interest rate?

This page tracks the Effective Federal Funds Rate, or EFFR, which is the market rate banks effectively pay for overnight federal funds transactions. It is one of the clearest daily signals of the current US policy-rate environment and a common reference point for market commentary around the Federal Reserve.

Effective Federal Funds Rate

Historical ranges now cover 1D, 5D, 1M, 6M, 1Y, and the full available history from FRED, so the page behaves like a reference tool instead of a static dashboard tile.

Updated 5/29/2026
3.62
%

Interactive chart

Hover to inspect points. Use the range buttons to switch the visible history window.

3.62%
2026-05-29
Range change: -0.71%
From 2025-05-29
1D
0.00
Since 2026-05-28
5D
0.00
Since 2026-05-22
1M
-0.02
Since 2026-04-29
6M
-0.27
Since 2025-11-28
1Y
-0.71
Since 2025-05-29
ALL
-3.41
Since 2000-07-03
DateRate
2026-05-293.62%
2026-05-283.62%
2026-05-273.62%
2026-05-263.62%
2026-05-223.62%
2026-05-213.62%
2026-05-203.62%
2026-05-193.62%
2026-05-183.63%
2026-05-153.63%
2026-05-143.63%
2026-05-133.63%

How to interpret EFFR

When EFFR moves higher, short-term borrowing conditions generally tighten. When it moves lower, short-term financing tends to ease. Analysts often compare this benchmark with Treasury yields and inflation expectations to understand whether markets expect policy to stay restrictive or loosen.