Fed funds rate (effective)
Now 3.88 % (Oct 22, 2026), before 3.88 %, a year ago 4.11 %.
How to read it
The price of money everything else is priced from. What moves markets is not the level but the change in the expected path: how many cuts or hikes are priced and whether the Fed confirms them.
Source: FRED · daily; moves at FOMC meetings (8 a year)