The key facts at the top give the Federal Reserve's current target range for the federal funds rate and the latest effective rate. The table lists the most recent changes to the target range, newest first, as the Fed lists them on its open market operations page.
Two numbers with the same name
The Fed describes the federal funds rate as the interest rate at which depository institutions lend reserve balances to other depository institutions overnight. Its Federal Open Market Committee sets a target range for that rate. The effective federal funds rate is a measure of the rates actually paid: since March 1, 2016, the Fed has calculated it as a volume-weighted median of transaction-level data that depository institutions report to it.
How to read the table
The Fed states each change in basis points; this page shows it in percentage points, so a change of 25 basis points appears as 0.25.
When it updates
The target range changes when the committee decides to change it. The effective rate is published in the Fed's H.15 release, which is posted Monday through Friday at 4:15 p.m. except on holidays. This page reads both Fed pages every few hours and updates at the same address.
This page reports published rates and is not financial advice.