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Federal Funds Target Rate (DISCONTINUED) (DFEDTAR)

Federal Reserve Bank of St. Louis · 2026-09-19

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<meta name="dc.extra" content="Data for the period prior to 1994 come from the working paper &quot;A New Federal Funds Rate Target Series: September 27, 1982 - December 31, 1993&quot; (Thornton, Federal Reserve Bank of St. Louis, 2005, http://research.stlouisfed.org/wp/2005/2005-032.pdf). Due to an error in the paper values from April 2, 1986 - April 20, 1986 were adjusted manually to 7.3125%. Data from 1994 to the present are derived from FOMC meeting transcripts and FOMC meeting statements, http://www.federalreserve.gov/fomc/.

Effective December 16, 2008, target rate is reported as a range. Current data at https://fred.stlouisfed.org/series/DFEDTARU and https://fred.stlouisfed.org/series/DFEDTARL ">
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    2008-12-15: <span class="series-meta-observation-value">1.0000</span> |
    Percent, Not Seasonally Adjusted |
    <span class="series-meta-value-frequency">
        Daily,<br />7-Day    </span>
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    Updated:
    <span title="May 4, 2015 2:10 PM CDT">
        <span class="series-meta-updated-date">May 4, 2015</span>
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            <span class="series-meta-observation-value">1.0000</span>
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            <span class="updated-text default-text" title="May 4, 2015 2:10 PM CDT">
                Updated:
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                    <td align="right">2008-12-15:&nbsp;</td>
                    <td align="right" class="series-obs value">1.0000</td>
                    <td>&nbsp;</td>
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                    <td align="right">2008-12-14:&nbsp;</td>
                    <td align="right" class="series-obs value">1.0000</td>
                    <td>&nbsp;</td>
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                    <td align="right">2008-12-13:&nbsp;</td>
                    <td align="right" class="series-obs value">1.0000</td>
                    <td>&nbsp;</td>
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                    <td align="right">2008-12-12:&nbsp;</td>
                    <td align="right" class="series-obs value">1.0000</td>
                    <td>&nbsp;</td>
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                    <td align="right">2008-12-11:&nbsp;</td>
                    <td align="right" class="series-obs value">1.0000</td>
                    <td>&nbsp;</td>
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            <span class="series-meta-value"><span class="series-meta-value-units">Percent</span>,</div><div class="default-text">Not Seasonally Adjusted            </span>
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        <p class="series-meta-label default-text">Frequency:</p>
        <div class="default-text">
            <span class="series-meta-value">
                <span class="series-meta-value-frequency">
                    Daily,</div><div class="default-text">7-Day                </span>
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                Notes
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                    <p class="col-12 col-md-6 float-start padding-r25 mb-2"><strong>Source:</strong>
            <a class="note-source series-source series-focus fg-ext-link-gtm fg-source-link-gtm" rel="nofollow" href="https://www.federalreserve.gov" target="_blank">Board of Governors of the Federal Reserve System (US)
            <i class="fas fa-external-link-alt" aria-hidden="true"></i></a>&nbsp;                    
        <p class="col-12 col-md-6 float-start mb-2"><strong>Release:</strong>
            <a
                    class="note-release series-release series-focus fg-ext-link-gtm fg-release-link-gtm" rel="nofollow"
                    href="http://www.federalreserve.gov/fomc/" target="_blank">FOMC Press Release
                <i class="fas fa-external-link-alt" aria-hidden="true"></i></a>&nbsp;                    <div class="clearfix"></div>

        <p class="col-12 float-start mb-2"><strong>Units:</strong>&nbsp;
            <span class="series-meta-value"><span class="series-meta-value-units">
Percent</span>,&nbsp;Not Seasonally Adjusted
  </span>
        </p>
        <p class="col-12 float-start mb-2"><strong>Frequency:</strong>&nbsp;
            <span class="series-meta-value">
      <span class="series-meta-value-frequency">
          Daily, 7-Day        </span>
    </span>
        </p>

                            <div class="col-12 float-start"><h4 class="section-title">Notes:</h4></div>
            <p class="series-notes mb-2">Data for the period prior to 1994 come from the working paper "A New Federal Funds Rate Target Series: September 27, 1982 - December 31, 1993" (Thornton, Federal Reserve Bank of St. Louis, 2005, <a href="http://research.stlouisfed.org/wp/2005/2005-032.pdf" class="breakable" target="_blank">http://research.stlouisfed.org/wp/2005/2005-032.pdf</a>). Due to an error in the paper values from April 2, 1986 - April 20, 1986 were adjusted manually to 7.3125%. Data from 1994 to the present are derived from FOMC meeting transcripts and FOMC meeting statements, <a href="http://www.federalreserve.gov/fomc/" class="breakable" target="_blank">http://www.federalreserve.gov/fomc/</a>.<br><br>Effective December 16, 2008, target rate is reported as a range. Current data at <a href="https://fred.stlouisfed.org/series/DFEDTARU" class="breakable" target="_blank">https://fred.stlouisfed.org/series/DFEDTARU</a> and <a href="https://fred.stlouisfed.org/series/DFEDTARL" class="breakable" target="_blank">https://fred.stlouisfed.org/series/DFEDTARL</a></p>
        

        <div class="series-citation">
            <h4 class="section-title">Suggested Citation:</h4>
                                                                <div>
                <p class="citation mb-3">
                    Board of Governors of the Federal Reserve System (US),
                    Federal Funds Target Rate (DISCONTINUED) [DFEDTAR],
                    retrieved from FRED,
                    Federal Reserve Bank of St. Louis;
                    https://fred.stlouisfed.org/series/DFEDTAR,
                    <span class="cit-date"></span>.
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