Release · 2026-10-20 to 2026-10-20

Effective federal funds rate held at 3.88 percent on October 19

The New York Fed's effective federal funds rate for Monday, October 19, 2026 was 3.88 percent, unchanged from Friday, October 16, and inside the 3.75 to 4.00 percent target range. The 1st percentile was 3.85 percent and the 99th percentile 3.89 percent, both unchanged. The 25th percentile rose to 3.88 percent from 3.87 percent, and the 75th percentile rose to 3.89 percent from 3.88 percent. Volume was 110 billion dollars, after 115 billion dollars on October 16. The rate has printed 3.88 percent on every business day from October 13 through October 19. The next FOMC meeting is October 27 to 28.

Effective federal funds rate: 3.88% 2026-10-19 · prior 3.88% (2026-10-16)
Effective federal funds rate, 1st percentile: 3.85% 2026-10-19 · prior 3.85% (2026-10-16)
Effective federal funds rate, 25th percentile: 3.88% 2026-10-19 · prior 3.87% (2026-10-16)
Effective federal funds rate, 75th percentile: 3.89% 2026-10-19 · prior 3.88% (2026-10-16)
Effective federal funds rate, 99th percentile: 3.89% 2026-10-19 · prior 3.89% (2026-10-16)
Effective federal funds volume: $110B 2026-10-19 · prior $115B (2026-10-16)
Federal funds target range, lower bound: 3.75% 2026-10-19 · prior 3.75% (2026-10-16)
Federal funds target range, upper bound: 4% 2026-10-19 · prior 4% (2026-10-16)

Effective federal funds rate. Federal Reserve Bank of New York, October 13 to October 19, 2026. Share card.

Source: Effective Federal Funds Rate Data, October 13 to October 19, 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 = 3.85% — at Federal Reserve Bank of New York
found Effective federal funds rate, 25th percentile = 3.88% — at Federal Reserve Bank of New York
found Effective federal funds rate, 75th percentile = 3.89% — 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 = $110B — 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 20, 2026, updated Oct 21, 2026.

This page is one print. The daily brief for October 20, 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.