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EconomyPast Article

The Funds Target Range Moved Down

The upper bound of the federal funds target range was 4.75 percent on November 8, 2024, from 5.00 percent, according to the St. Louis Fed. The lower bound is 4.50 percent.

By Helen Voss, Rates Columnist

Washington1 min read

blue circuit board
blue circuit boardPhoto by Umberto on Unsplash

The published upper limit of the federal funds target range was 4.75 percent on November 8, 2024, according to data from the St. Louis Fed. The day before the change, that upper limit was 5.00 percent. The lower limit was 4.50 percent, from 4.75 percent.

The target range is not a bond yield. It governs banks' overnight reserves, a different market from the ten-year Treasury note.

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