Release · 2026-10-15 to 2026-10-15

Effective federal funds rate held at 3.88 percent on October 14

The New York Fed's effective federal funds rate for October 14 was 3.88 percent, unchanged from October 13. The target range stayed at 3.75 to 4.00 percent. The 1st percentile was 3.80 percent, down from 3.85 percent, the 25th percentile 3.87 percent, down from 3.88 percent, the 75th percentile 3.88 percent, and the 99th percentile 3.89 percent. Volume was 111 billion dollars, after 106 billion dollars on October 13. 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.

Effective federal funds rate: 3.88% 2026-10-14 · prior 3.88% (2026-10-13)
Effective federal funds rate, 1st percentile: 3.8% 2026-10-14 · prior 3.85% (2026-10-13)
Effective federal funds rate, 25th percentile: 3.87% 2026-10-14 · prior 3.88% (2026-10-13)
Effective federal funds rate, 75th percentile: 3.88% 2026-10-14 · prior 3.88% (2026-10-13)
Effective federal funds rate, 99th percentile: 3.89% 2026-10-14 · prior 3.89% (2026-10-13)
Effective federal funds volume: $111B 2026-10-14 · prior $106B (2026-10-13)
Federal funds target range, lower bound: 3.75% 2026-10-14 · prior 3.75% (2026-10-13)
Federal funds target range, upper bound: 4% 2026-10-14 · prior 4% (2026-10-13)

Effective federal funds rate. Federal Reserve Bank of New York, October 7–October 14, 2026. Share card.

Source: Effective Federal Funds Rate Data, October 14, 2026 — Federal Reserve Bank of New York. Also: Effective Federal Funds Rate.

all 8 figures found at the source

found Effective federal funds rate = 3.88% — at Federal Reserve Bank of New York
found Effective federal funds rate, 1st percentile = 3.8% — 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 rate, 99th percentile = 3.89% — at Federal Reserve Bank of New York
found Effective federal funds volume = $111B — 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

Researched by Grok, checked against each source by an automated pass, edited by Clem Ziroli III. Published Oct 15, 2026.

This page is one print. The daily brief for October 15, 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.