EFFR reads 3.63% as of 2026-09-10. Change from prior reading: +0.00. Current value sits at the 25th percentile of the trailing 5 years. Sourced from fred, refreshed every 6 hours, and free to access via the JSON API.
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Indicator Terminal View
Integrated Brief
EFFR — the Effective Federal Funds Rate, published by the Federal Reserve Bank of New York every business day. It is the volume-weighted median of actual overnight unsecured loans between banks, so it shows where the market really clears, not the FOMC's announced target range (a band, not a single number) and not the interest rate on reserve balances (IORB). Because it moves with real transactions, it is the anchor other short-end rates get read against: comparing it with the 2-year Treasury yield shows whether the market is pricing rate cuts or hikes over roughly the next two years. No prints on weekends or federal holidays.
Core Print
Current Interpretation
EFFR is currently 3.63 (daily change +0.00). Based on its standardized historical distribution (z-score), current positioning reflects a "neutral range". Check related plumbing indicators to evaluate broader systemic conditions.
Score contribution is currently unavailable for this indicator.
Read our complete guide on EFFR, including historical examples, interpretation methods, and common pitfalls.