Daily brief: September 18, 2026
5 releases in the September 18, 2026 editor's cut: Industrial production was unchanged in August after a 0.2 percent July rise; Effective federal funds rate was 3.88 percent on September 17; SOFR was 3.85 percent on September 17, up 23 basis points; and 2 more. Each has its own page.
On their own pages
- Industrial production was unchanged in August after a 0.2 percent July rise
The Federal Reserve Board's G.17 release, published at 9:15 a.m. ET September 18, said industrial production was unchanged in August after increasing 0.2 percent in July. Manufacturing output decreased 0.3 percent. Mining ticked up 0.1 percent and utilities increased 1.8 percent. At 103.1 percent of its 2017 average, total IP in August was 1.4 percent above its year-earlier level. Capacity utilization was unchanged at 76.3 percent, 3.1 percentage points below its long-run (1972–2025) average. The total index for July was unrevised at 103.0. June's monthly change was revised to 0.2 percent from 0.3 percent.
- Effective federal funds rate was 3.88 percent on September 17
The New York Fed published an effective federal funds rate of 3.88 percent for September 17, the first full operating day after the September 16 FOMC decision. That is 25 basis points above the 3.63 percent print for September 16. The target range on the September 17 print is 3.75 to 4.00 percent, against 3.50 to 3.75 percent on the September 16 print. Trading volume was $100 billion, against $90 billion the prior day.
- SOFR was 3.85 percent on September 17, up 23 basis points
The New York Fed published a Secured Overnight Financing Rate of 3.85 percent for September 17, 23 basis points above the 3.62 percent print for September 16. Volume was $2,992 billion, against $2,931 billion the prior day. The print covers the first full operating day after the September 16 FOMC decision.
- Board commercial paper: AA nonfinancial overnight 3.87 percent on September 17
The Federal Reserve Board's commercial paper release, posted September 18, reported rates as of September 17. The AA nonfinancial overnight rate was 3.87 percent, versus 3.64 percent on September 16. The AA financial overnight rate was 3.87 percent, versus 3.62 percent on September 16. The A2/P2 nonfinancial overnight rate was 4.04 percent, versus 3.80 percent on September 16. The AA nonfinancial 30-day rate was 3.94 percent, versus 3.93 percent on September 16.
- Total public debt outstanding was $40.093 trillion on September 17
Treasury Fiscal Data's Debt to the Penny listed total public debt outstanding at 40,093,343,468,150.50 dollars as of September 17, compared with 40,094,080,427,790.97 dollars on September 16. Debt held by the public was 32,392,786,557,372.46 dollars, compared with 32,406,353,922,774.30 dollars on September 16. Intragovernmental holdings were 7,700,556,910,778.04 dollars, compared with 7,687,726,505,016.67 dollars on September 16. The one-day decline of 736,959,640.47 dollars mixed a 13.57 billion dollar fall in debt held by the public with a 12.83 billion dollar rise in intragovernmental holdings.
1 further item was researched for this day and held back: its figures could not be found at the named source by the automated pass, so it is not published here.
Items report what the named sources published in the window; they are not this site's own findings, and a source's framing is not a verdict on who owns the money supply. Figures are as those sources printed them. The methodology says how this page is made and what is checked.