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Federal Funds Rate History: 1989 to 1980

Home Home > Mortgage Research > Historical Rates & Indexes: Fed Funds: 1989-1980

Month

1989

1988

1987

1986

1985

January

9.12 6.83 6.43 8.14 8.35

February

9.36 6.58 6.10 7.86 8.50

March

9.85 6.58 6.13 7.48 8.58

April

9.84 6.87 6.37 6.99 8.27

May

9.81 7.09 6.85 6.85 7.97

June

9.53 7.51 6.73 6.92 7.53

July

9.24 7.75 6.58 6.56 7.88

August

8.99 8.01 6.73 6.17 7.90

September

9.02 8.19 7.22 5.89 7.92

October

8.84 8.30 7.29 5.85 7.99

November

8.55 8.35 6.69 6.04 8.05

December

8.45 8.76 6.77 6.91 8.27

Month

1984

1983

1982

1981

1980

January

9.56 8.68 13.22 19.08 13.82

February

9.59 8.51 14.78 15.93 14.13

March

9.91 8.77 14.68 14.70 17.19

April

10.29 8.80 14.94 15.72 17.61

May

10.32 8.63 14.45 18.52 10.98

June

11.06 8.98 14.15 19.10 9.47

July

11.23 9.37 12.59 19.04 9.03

August

11.64 9.56 10.12 17.82 9.61

September

11.30 9.45 10.31 15.87 10.87

October

9.99 9.48 9.71 15.08 12.81

November

9.43 9.34 9.20 13.31 15.85

December

8.38 9.47 8.95 12.37 18.90
 

Participants in the federal funds market include commercial banks, thrift institutions, agencies and branches of foreign banks in the United States, federal agencies, and government securities dealers.

Many relatively small institutions that accumulate reserves in excess of their requirements lend reserves overnight to money center and large regional banks, and to foreign banks operating in the United States. Federal agencies also lend idle funds in the federal funds market. 

Other financial institutions serve as intermediaries in the market by borrowing and lending funds on the same day, usually channeling funds from relatively small to large depository institutions. Several broker firms that neither borrow nor lend funds arrange transactions between lenders and borrowers in order to earn commissions.  

Federal Funds Rate History: For Historical Reference Only: Rates and explanations provided by the Federal Reserve System.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.