Rates Policy Context
Fed Policy Rates
3.63%
May 1, 2026 Rate
Updated May 2026
Track the Fed policy band, effective fed funds rate, interest on reserve balances, and the next FOMC meeting window through one catalog-backed rates page.
Target Band3.50%-3.75%
IORB3.65%
Next FOMCSeptember 15-16, 2026
Federal Reserve policy-rate context from FRED-linked daily series.
Catalog lineageThis page is built from catalog-linked curve_series resources plus a contextual calendar_event_series resource. The page-pack walks from the stat page to the displayed policy-rate curves, L1 fact filters, staging model, source external tables, FRED channel/provider, and the linked FOMC meeting schedule.
1
Stat Pagefed-policy-rates
2
Primary CurveFederal Funds Effective Rate
3
Curve L1l1_fact_point where FEDFUNDS
4
Curve Stagingstg_curves_fred_credit_data
5
FOMC ContextFOMC Meeting Calendar
6
Calendar L1calendar_l1_events where FOMC / MEETING / FOMC
7
ProvidersFredFederal_reserve
Every number above traces to its source. We build the same lineage for the numbers your team relies on, with each value pulled, tracked, and kept current.Book a discovery call
3.63%
Latest Effective Rate
Latest FEDFUNDS reading used as the page hero metric.
3.50%-3.75%
Target Band
Lower and upper target-rate bounds from DFEDTARL and DFEDTARU.
September 15-16, 2026
Next FOMC Window
Next scheduled meeting window · 2:00 PM ET
Upcoming FOMC meetings
The next policy meetings linked to this page through the catalog-backed FOMC event series.UpcomingSeptember 15-16, 20262:00 PM ET
FOMC meeting (September
15-16)
USSource ref: FRB
UpcomingOctober 27-28, 20262:00 PM ET
FOMC meeting (October
27-28)
USSource ref: FRB
UpcomingDecember 8-9, 20262:00 PM ET
FOMC meeting (December
8-9)
USSource ref: FRB
Methodology & source
Why it matters
FOMC decisions and the administered policy-rate complex drive front-end rates, liquidity, risk assets, and macro expectations.Source
CMD+RVL links FRED daily rate series and the Federal Reserve meeting calendar through Salt catalog resources so the page can explain both the numeric rate context and the upcoming policy meeting schedule.Methodology
This page tracks four warehouse-backed policy-rate series from the FRED credit feed and attaches the canonicalized FOMC meeting schedule as contextual event metadata.Limitations
The page is not itself the release calendar hub; /stats/calendar remains the canonical schedule surface. FOMC event windows are normalized from raw meeting-day rows before page-pack generation. Freshness depends on scraper, external-table refresh, dbt transform, and page-pack build all completing successfully.Frequently asked questions
Is this page the FOMC meeting calendar?
No. This page is the rates destination for FOMC-linked calendar rows. The schedule itself remains on /stats/calendar and is attached here as context.What is the hero metric?
The hero metric is the Federal Funds Effective Rate (FEDFUNDS), with the target band and IORB shown as supporting policy context.What you’re looking at
This page is a working outcome.
Everything above, including the live figure, lineage trail, and automatic refresh, is a working example of an Operated Monitor, one of the outcomes CMD+RVL runs for clients. We stand up the same against the numbers your decisions depend on:
Pulled from source
Connected straight to where your data lives, with lineage captured on every value so each number traces back to where it came from.
Always current
Refreshed on a schedule and monitored, so the figure you cite is the figure that is true today, not last quarter’s spreadsheet.
Defensible
A standing record of what each number was and when, with the evidence to prove what you knew and when you knew it.