Effective federal funds rate held at 3.88 percent on October 2
The New York Fed's effective federal funds rate for October 2 was 3.88 percent, unchanged from October 1. 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 118 billion dollars, after 120 billion dollars on October 1. The rate move is zero basis points, below the 10-basis-point bar, and files as a thin weekday update. Standing-series reference rate, not a must-ping agency print. Slot 09 already filed SOFR for October 2.
- Effective federal funds rate
- 3.88%
- Effective federal funds rate, 25th percentile
- 3.87%
- Effective federal funds rate, 75th percentile
- 3.88%
- Effective federal funds volume
- $118B
- Federal funds target range, lower bound
- 3.75%
- Federal funds target range, upper bound
- 4%
Source: Effective Federal Funds Rate Data, October 2, 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 = $118B — 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
This page is one print. The daily brief for October 5, 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.