Fed funds target range, upper limitNot seasonally adjusted
Board of Governors of the Federal Reserve System (FOMC) · daily · 4,649 observations
751st highest of 4,649 business days since Dec 16, 2008 (tied with 76 business days; target-range era, since Dec 16, 2008)
±0.00 pp vs prior day−0.25 pp vs a year earlier
Source: Federal Reserve Board
About this series
What it measures
The top of the target range for the federal funds rate set by the Federal Open Market Committee, in percent. The Fed announces the range in each FOMC statement after its eight scheduled meetings a year (or at unscheduled meetings), and the implementation note gives the date it takes effect, usually the day after the statement.
Why it matters
It is the Fed's main policy rate setting and the starting point for many short-term borrowing and saving rates.
Common misreads
The Fed sets a range; the effective federal funds rate is a market rate that trades inside it. The range changes only on policy decisions, so the line is flat between meetings.