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Effective Federal Funds Rate (DFF) Federal Funds Target Rate (DISCONTINUED SERIES) (DFEDTAR) 3.0 2.8 B 2.5 2.0 FF Target 1.5 (Percent) 1.0 75 - -

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Effective Federal Funds Rate (DFF) Federal Funds Target Rate (DISCONTINUED SERIES) (DFEDTAR) 3.0 2.8 B 2.5 2.0 FF Target 1.5 (Percent) 1.0 75 - - Actual FF Rate 0.5 2008-07 2008-08 2008-09 2008-10 2008-11 2008-12 2009-01 Shaded areas indicate US recessions. FRED 2013 research.stlouisfed.org COLDTAR

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