FRED · Updated monthly
Federal Funds Rate History
The Fed Funds effective rate from pandemic-era lows through the fastest hiking cycle in 40 years — and what every shift meant in dollars for savers and borrowers.
Current rate
3.63%
Jun 2026
Archive high
5.33%
Since 2020 archive
Pandemic low
0.07%
Mar 2021
Fed Funds Effective Rate (FRED — monthly)
Source: Federal Reserve Bank of St. Louis. Effective rate is the weighted average of overnight federal funds transactions.
Chart data loads after the weekly FRED sync (Sundays at 3am UTC).
What each 25bps cut costs your savings account
High-yield savings rates typically move within 30 days of a Fed cut. A 25bps cut at today's best rate (4.40% APY) reduces your annual interest by:
$10k balance
−$25/yr
per 25bps cut
$25k balance
−$63/yr
per 25bps cut
$50k balance
−$125/yr
per 25bps cut
$100k balance
−$250/yr
per 25bps cut
The inverse is also true: a hold or hike preserves or increases your yield. Lock in a CD if you expect cuts — see top CD rates.