{"uid":"cap_VK7ZfNk-Iz4Yux385RHOP","slug":"stationfx-federal-funds-effective-rate-a09d2a7b","name":"StationFX Federal Funds Effective Rate","description":"The actual overnight rate at which banks lend reserves to each other, set by Fed open market operations. The primary instrument of U.S. monetary policy. Use for rate cycle identification, policy stance analysis, and macro regime detection. Daily frequency with full history back to 1954.","url":"https://stationfx.com/economic-data/monetary-policy/federal-funds-effective-rate?utm_source=zero.xyz","method":"GET","headers":{},"bodySchema":{"type":"object","$schema":"https://json-schema.org/draft/2020-12/schema","required":["input"],"properties":{"input":{"type":"object","required":["type","method"],"properties":{"type":{"type":"string","const":"http","description":"Always \"http\" for HTTP endpoints"},"method":{"enum":["GET","HEAD","DELETE"],"type":"string","description":"HTTP method. Always GET for StationFX query endpoints"},"queryParams":{"type":"object","properties":{"fmt":{"enum":["json","toon"],"type":"string","description":"Response format. Use toon for compact agent-friendly output."},"fields":{"type":"string","description":"Comma-separated metric names"},"date_to":{"type":"string","description":"End date YYYY-MM-DD"},"date_from":{"type":"string","description":"Start date YYYY-MM-DD"}}}},"additionalProperties":false},"output":{"type":"object","required":["type"],"properties":{"type":{"type":"string","description":"Response format. Always \"json\" (or \"toon\" if fmt=toon was requested)"},"example":{"type":"object","properties":{"data":{"type":"array","items":{"type":"object","properties":{"date":{"type":"string","description":"Observation date YYYY-MM-DD"},"value":{"type":"number","description":"Raw observed value in series units"},"mom_pct":{"type":"number","description":"Month-over-month % change"},"yoy_pct":{"type":"number","description":"Year-over-year % change"},"zscore_5y":{"type":"number","description":"Z-score relative to trailing 5 years"},"mom_change":{"type":"number","description":"Month-over-month absolute change"},"yoy_change":{"type":"number","description":"Year-over-year absolute change"},"zscore_12m":{"type":"number","description":"Z-score relative to trailing 12 months"},"above_trend":{"type":"integer","description":"1 if value is above long-run trend, else 0"},"pct_rank_5y":{"type":"number","description":"Percentile rank over trailing 5 years (0-100)"},"rolling_3m_avg":{"type":"number","description":"3-month rolling average"},"rolling_12m_avg":{"type":"number","description":"12-month rolling average"},"trend_direction":{"type":"integer","description":"Trend: 1 rising, -1 falling, 0 flat"}}},"description":"Observations ordered by date ascending"},"meta":{"type":"object","description":"Series metadata: source_key (FRED series ID), units, frequency (D/W/M/Q/A), date_from, date_to, fields"}},"description":"Station f(x) response with metadata and pre-computed derived metrics"}}}}},"responseSchema":{"type":"json","schema":{"type":"object","properties":{"data":{"type":"array","items":{"type":"object","properties":{"date":{"type":"string","description":"Observation date YYYY-MM-DD"},"value":{"type":"number","description":"Raw observed value in series units"},"mom_pct":{"type":"number","description":"Month-over-month % change"},"yoy_pct":{"type":"number","description":"Year-over-year % change"},"zscore_5y":{"type":"number","description":"Z-score relative to trailing 5 years"},"mom_change":{"type":"number","description":"Month-over-month absolute change"},"yoy_change":{"type":"number","description":"Year-over-year absolute change"},"zscore_12m":{"type":"number","description":"Z-score relative to trailing 12 months"},"above_trend":{"type":"integer","description":"1 if value is above long-run trend, else 0"},"pct_rank_5y":{"type":"number","description":"Percentile rank over trailing 5 years (0-100)"},"rolling_3m_avg":{"type":"number","description":"3-month rolling average"},"rolling_12m_avg":{"type":"number","description":"12-month rolling average"},"trend_direction":{"type":"integer","description":"Trend: 1 rising, -1 falling, 0 flat"}}},"description":"Observations ordered by date ascending"},"meta":{"type":"object","description":"Series metadata: source_key (FRED series ID), units, frequency (D/W/M/Q/A), date_from, date_to, fields"}},"description":"Station f(x) response with metadata and pre-computed derived metrics"},"example":{"data":[{"date":"2024-01-01","value":5.33,"mom_pct":0,"yoy_change":0.5,"zscore_12m":1.2,"trend_direction":1}],"meta":{"frequency":"M","source_key":"FEDFUNDS"}}},"example":null,"exampleRequest":null,"tags":["x402"],"displayCostAmount":"0.005","displayCostAsset":"USDC","priceDynamic":false,"priceHint":null,"priceStatus":"priced","priceSource":"probe","requiresHandshake":false,"reviewCount":0,"rating":{"score":"0.00","successRate":"0.00","reviews":0,"stars":null,"state":"unrated"},"availabilityStatus":"unknown","priceObserved":null,"sessionDeposit":null,"pricing":{"kind":"static","summary":"$0.005/call","primary":{"kind":"static","protocol":"x402","network":"base","amountUsd":"0.005","per":"call","confidence":"exact"},"accepted":[{"kind":"static","protocol":"x402","network":"base","amountUsd":"0.005","per":"call","confidence":"exact"}]},"paymentMethods":[{"uid":"pm_C4z4oB-V7iiNKZlGhTysI","protocol":"x402","methodType":"crypto","chain":"base","mode":"charge","costAmount":"0.005","costPer":"request","priority":0,"asset":"0x833589fCD6eDb6E08f4c7C32D4f71b54bdA02913","unit":"request","depositMicros":null,"planRef":null}],"brandName":null,"brandSlug":null,"brandBaseUrl":null,"brandDocsUrl":null,"whatItDoes":"Returns the daily Federal Funds Effective Rate (FFER) — the overnight interbank lending rate set by Fed open market operations — with derived signals like z-scores, rolling averages, and trend flags, back to 1954.","exampleAgentPrompt":"Pull the federal funds effective rate from StationFX for the past two years in JSON format so I can see how the rate has moved and where today's level sits relative to the trailing 5-year history.","exampleUseCases":[{"title":"Rate cycle identification for macro model","prompt":"Get me the daily federal funds effective rate from January 2020 through today — I need the raw value plus the month-over-month change and the 5-year percentile rank so I can label hiking vs easing cycles in my model."},{"title":"Fed policy stance dashboard","prompt":"What's the current federal funds rate and how does it compare to the last 12 months? I want the z-score and rolling 3-month average so I can update my policy stance indicator."},{"title":"2008 crisis rate history analysis","prompt":"Pull the federal funds effective rate from 2006 to 2010 in JSON format — I'm researching how aggressively the Fed cut rates during the financial crisis and want the year-over-year change for each observation."}],"resultDescription":"A JSON array of daily observations, each containing the date, raw rate value, month-over-month and year-over-year absolute and percentage changes, 12-month and 5-year z-scores, 5-year percentile rank, 3-month and 12-month rolling averages, and an above-trend binary flag. Compact 'toon' format available for agent-friendly consumption.","failureModes":["Invalid date format returns error — dates must be YYYY-MM-DD","date_from after date_to returns empty or error response","Requesting dates before 1954 may return no data","Invalid fmt enum value (anything other than 'json' or 'toon') returns error","Payment failure (x402) blocks access if bearer token is exhausted or missing","Truncated fields parameter with typos returns missing or null columns"],"whenToPreferThis":"Choose this endpoint when you need the authoritative daily Federal Funds Effective Rate with pre-computed macro signals (z-scores, rolling averages, percentile ranks, trend flags) rather than raw FRED data alone. Ideal for rate cycle detection, policy stance scoring, and macro regime labeling in agent pipelines. Prefer over generic FRED wrappers when you need derived analytics alongside raw values without additional computation.","instructions":null,"reviewSummary":null,"reviewSummaryHighlights":null,"reviewSummaryConcerns":null,"reviewSummaryGeneratedAt":null,"activationCount":0,"lastUsedAt":null,"lastSuccessfullyRanAt":null,"lastHealthCheckAt":"2026-10-02T06:46:29.306Z","isFirstParty":false,"canonicalSlug":"stationfx-federal-funds-effective-rate-a09d2a7b"}