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Federal Funds Rate History: 2009 to 2000

Home Home > Mortgage Research > Historical Rates & Indexes: Fed Funds: 2009-2000

Month

2009

2008

2007

2006

2005

January

 

3.50/3.00

5.25

4.50

2.25

February

 

3.00

5.25

4.50

2.50

March

 

2.25

5.25

4.75

2.75

April

 

2.25

5.25

4.75

2.75

May

 

2.00

5.25 5.00

3.00

June

 

 2.00

5.25

5.25

3.25

July

 

2.00

5.25

5.25

3.25

August

 

2.00

5.25

5.25

3.50

September

 

2.00

4.75

5.25

3.75

October

 

1.50/1.00

4.50

5.25

3.75

November

 

 1.00

4.50 5.25

4.00

December

 

0.00 to 0.25

4.25

5.25

4.25

Month

2004

2003

2002

2001

2000

January

1.00 1.24 1.73 5.98 5.45

February

1.01 1.26 1.74 5.49 5.73

March

1.00 1.25 1.73 5.31 5.85

April

1.00 1.26 1.75 4.80 6.02

May

1.00 1.26 1.75 4.21 6.27

June

1.03 1.22 1.75 3.97 6.53

July

1.26 1.01 1.73 3.77 6.54

August

1.50 1.03 1.74 3.65 6.50

September

1.75 1.01 1.75 3.07 6.52

October

1.75 1.01 1.75 2.49 6.51

November

2.00 1.00 1.34 2.09 6.51

December

2.25 0.98 1.24 1.82 6.40
 

The Federal Funds Rate is the cost of borrowing immediately available funds, primarily for just one day.  The effective rate is weighted average of the reported rates at which different amounts of the day's trading through New York Brokers occurs. 

Federal Funds Rate History: For Historical Reference Only: Rates and explanations provided by the Federal Reserve System.   Accuracy of our information is not guaranteed. Some rates are rounded due mid-month changes or may contain typographical errors.  If you find a typographical error in the rate table let us know.

* January 2008:  Two Cuts in one month - January 30, 2008 cut was the second by the central bank in eight days. The first, which saw the Fed cut its fed funds rate to 3.5% from 4.25%, came after an emergency meeting on Jan. 21, 2008 as Asian and European markets were hit by panic selling.

The Fed also cut its discount rate -- the rate it charges member banks for short-term loans -- to 3.5% from 4% on January 30, 2008.

April 30, 2008 (last day of the month)  rate cut to 2.00%

The combined rate cuts were the largest in the shortest time since 1990, when the Fed established a policy of trying to control growth and inflation by targeting short-term interest rates

* Oct 08, 2008  Fed cuts rates to 1.50% in a coordinated move with foreign central banks.  Oct 29, 2008 Fed cuts rates to 1.00%.  Stock markets moved up and down in the hundreds of points since Oct 08 cut.