Current federal funds rate: 3.75–4.00% (last change September 17, 2026)
The current federal funds rate is 3.75–4.00% as of Thursday, October 22, the target range set by the Federal Reserve on September 17, 2026, when it raised 25 basis points.
Updated (ET)
The current federal funds rate is 3.75–4.00% as of Thursday, October 22, the target range set by the Federal Reserve on September 17, 2026, when it raised 25 basis points. The range changes only after an FOMC decision.
The FOMC sets a target range for the overnight rate banks charge each other. Prime rates, credit-card APRs and savings yields usually move within days of a change. This page is re-checked daily against the Federal Reserve table.
| Date | Increase (bp) | Decrease (bp) | Target range (%) | Source |
|---|---|---|---|---|
| September 17, 2026 | 25 | 0 | 3.75-4.00 | Federal Reserve Board |
FAQ
What is the federal funds rate right now?
What is the federal funds rate right now?
3.75% to 4.00%. (Source)
When did the Fed last change rates?
On September 17, 2026 (raised 25 basis points). (Source)
Who sets the federal funds rate?
The Federal Open Market Committee (FOMC) of the Federal Reserve. (Source)
How often is this page updated?
Daily, from the Federal Reserve open market table.
Does the Fed rate set mortgage rates?
Not directly; mortgage rates follow longer-term bond yields, though they often react to Fed decisions.