Federal Reserve
Fed funds target (upper)
4.00%
As of October 12, 2026 · updated daily
Change over period:
Recent changes
| Effective date | New rate | Change |
|---|---|---|
| September 17, 2026 | 4.00% | +25 bps |
| December 11, 2025 | 3.75% | -25 bps |
| October 30, 2025 | 4.00% | -25 bps |
| September 18, 2025 | 4.25% | -25 bps |
| December 19, 2024 | 4.50% | -25 bps |
| November 8, 2024 | 4.75% | -25 bps |
| September 19, 2024 | 5.00% | -50 bps |
| July 27, 2023 | 5.50% | +25 bps |
| May 4, 2023 | 5.25% | +25 bps |
| March 23, 2023 | 5.00% | +25 bps |
| February 2, 2023 | 4.75% | +25 bps |
| December 15, 2022 | 4.50% | +50 bps |
| November 3, 2022 | 4.00% | +75 bps |
| September 22, 2022 | 3.25% | +75 bps |
| July 28, 2022 | 2.50% | +75 bps |
| June 16, 2022 | 1.75% | +75 bps |
| May 5, 2022 | 1.00% | +50 bps |
| March 17, 2022 | 0.50% | +25 bps |
| March 16, 2020 | 0.25% | -100 bps |
| March 4, 2020 | 1.25% | -50 bps |
| October 31, 2019 | 1.75% | -25 bps |
| September 19, 2019 | 2.00% | -25 bps |
| August 1, 2019 | 2.25% | -25 bps |
| December 20, 2018 | 2.50% | +25 bps |
| September 27, 2018 | 2.25% | +25 bps |
Source: Federal Reserve Bank of St. Louis (FRED). For information only.