Latest U.S. Fed Policy rates

The Federal Reserve's policy rates are the Fed Funds upper and lower bounds, the interest rate on reserve balances (IORB, replaced IORR and IOER in July 2021). The policy rates are published every business day for the previous business day, the latest complete data is for September 22nd, 2023:

• Effective Fed Funds Rate (EFFR): 5.33%
• Fed Funds upper bound: 5.50%
• Fed Funds lower bound: 5.25%
• Interest Rate on Reserve Balances (IORB): 5.40%

Policy rate history