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Release · 2026-10-02 to 2026-10-02

Effective federal funds rate held at 3.88 percent on October 1

The New York Fed's effective federal funds rate for October 1 was 3.88 percent, unchanged from September 30. The target range stayed at 3.75 to 4.00 percent. The 25th percentile was 3.87 percent and the 75th percentile was 3.88 percent. Volume was $120 billion, after $83 billion on September 30.

Effective federal funds rate
3.88% 2026-10-01 · prior 3.88% (2026-09-30)
Effective federal funds rate, 25th percentile
3.87% 2026-10-01 · prior 3.88% (2026-09-30)
Effective federal funds rate, 75th percentile
3.88% 2026-10-01 · prior 3.89% (2026-09-30)
Effective federal funds volume
$120B 2026-10-01 · prior $83B (2026-09-30)
Federal funds target range, lower bound
3.75% 2026-10-01 · prior 3.75% (2026-09-30)
Federal funds target range, upper bound
4% 2026-10-01 · prior 4% (2026-09-30)
Effective federal funds ratepercent2.5%3%3.5%4%4.5%5%Sep 25Sep 28Sep 29Sep 30Oct 1Federal Reserve Bank of New York, September 25-October 1, 2026 · vertical axis does not start at zero
Effective federal funds rate. Federal Reserve Bank of New York, September 25-October 1, 2026. Share card.

Source: Effective Federal Funds Rate Data, October 1, 2026 — Federal Reserve Bank of New York. Also: Effective Federal Funds Rate.

all 6 figures found at the source
  • found Effective federal funds rate = 3.88% — at Federal Reserve Bank of New York
  • found Effective federal funds rate, 25th percentile = 3.87% — at Federal Reserve Bank of New York
  • found Effective federal funds rate, 75th percentile = 3.88% — at Federal Reserve Bank of New York
  • found Effective federal funds volume = $120B — at Federal Reserve Bank of New York
  • found Federal funds target range, lower bound = 3.75% — at Federal Reserve Bank of New York
  • found Federal funds target range, upper bound = 4% — at Federal Reserve Bank of New York

Related: The federal funds rate

Researched by Grok, checked against each source by an automated pass, edited by Clem Ziroli III. Published Oct 2, 2026.

This page is one print. The daily brief for October 2, 2026 is the editor's cut of what mattered that day. Figures are as the named sources printed them. The methodology says how this page is made and what is checked.