Fed Funds Rate
Policy anchor. Sets the direction for every other rate in the stack.
- source
- FRED
- frequency
- monthly
- units
- percent
- s.a.
- no
Fed funds sits at 3.88%, up 13 basis points from September but down 21 basis points year-over-year—the Fed's been grinding lower since late 2023, and the cut cycle has room to run if inflation keeps cooling. Every other rate in the stack keys off this number, so the direction matters more than the level: a held-steady funds rate this month signals the Fed's not panicking about anything, but a trajectory back toward 3.5% or lower reshapes refi math and unlocks refinance velocity for anyone locked in above 5%. Watch whether the next CPI print holds this trajectory or forces a pause; the Fed's forward guidance will tell you which way the next three cuts (or pause) are leaning.
"""
Fed Funds Rate — Policy anchor. Sets the direction for every other rate in the stack.
Freq: monthly · Source: FRED
"""
from fredapi import Fred
fred = Fred(api_key="YOUR_FRED_API_KEY")
series = fred.get_series("FEDFUNDS")
print(series.tail())You are analyzing FRED series FEDFUNDS — Federal Funds Effective Rate (Monthly). Context: Policy anchor. Sets the direction for every other rate in the stack. Attributes - Units: percent - Frequency: monthly - Source: FRED Latest observation: 3.88% as of 2026-10-01 Year-over-year change: -5.13% Analyze this metric for a tech-forward real estate investor with 1–3 properties. What is it signaling right now? What should I watch next?