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Federal Funds Rate under every president, month by month

At month 22 in office, Trump II is at 3.9%: #5 of 10 administrations (average 4.9%). Official Federal Reserve data.

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0.7%9.6%18.4%Month 1Month 13Month 25Month 37Month 48Nixon, month 1: 6.3%Nixon, month 4: 7.4%Nixon, month 7: 8.6%Nixon, month 10: 9.0%Nixon, month 13: 9.0%Nixon, month 16: 8.1%Nixon, month 19: 7.2%Nixon, month 22: 6.2%Nixon, month 25: 4.1%Nixon, month 28: 4.2%Nixon, month 31: 5.3%Nixon, month 34: 5.2%Nixon, month 37: 3.5%Nixon, month 40: 4.2%Nixon, month 43: 4.5%Nixon, month 46: 5.0%Nixon, month 48: 5.3%NixonCarter, month 1: 4.6%Carter, month 4: 4.7%Carter, month 7: 5.4%Carter, month 10: 6.5%Carter, month 13: 6.7%Carter, month 16: 6.9%Carter, month 19: 7.8%Carter, month 22: 9.0%Carter, month 25: 10.1%Carter, month 28: 10.0%Carter, month 31: 10.5%Carter, month 34: 13.8%Carter, month 37: 13.8%Carter, month 40: 17.6%Carter, month 43: 9.0%Carter, month 46: 12.8%Carter, month 48: 18.9%CarterReagan, month 1: 19.1%Reagan, month 4: 15.7%Reagan, month 7: 19.0%Reagan, month 10: 15.1%Reagan, month 13: 13.2%Reagan, month 16: 14.9%Reagan, month 19: 12.6%Reagan, month 22: 9.7%Reagan, month 25: 8.7%Reagan, month 28: 8.8%Reagan, month 31: 9.4%Reagan, month 34: 9.5%Reagan, month 37: 9.6%Reagan, month 40: 10.3%Reagan, month 43: 11.2%Reagan, month 46: 10.0%Reagan, month 48: 8.4%ReaganBush 41, month 1: 9.1%Bush 41, month 4: 9.8%Bush 41, month 7: 9.2%Bush 41, month 10: 8.8%Bush 41, month 13: 8.2%Bush 41, month 16: 8.3%Bush 41, month 19: 8.2%Bush 41, month 22: 8.1%Bush 41, month 25: 6.9%Bush 41, month 28: 5.9%Bush 41, month 31: 5.8%Bush 41, month 34: 5.2%Bush 41, month 37: 4.0%Bush 41, month 40: 3.7%Bush 41, month 43: 3.3%Bush 41, month 46: 3.1%Bush 41, month 48: 2.9%Bush 41Clinton, month 1: 3.0%Clinton, month 4: 3.0%Clinton, month 7: 3.1%Clinton, month 10: 3.0%Clinton, month 13: 3.0%Clinton, month 16: 3.6%Clinton, month 19: 4.3%Clinton, month 22: 4.8%Clinton, month 25: 5.5%Clinton, month 28: 6.0%Clinton, month 31: 5.8%Clinton, month 34: 5.8%Clinton, month 37: 5.6%Clinton, month 40: 5.2%Clinton, month 43: 5.4%Clinton, month 46: 5.2%Clinton, month 48: 5.3%ClintonBush 43, month 1: 6.0%Bush 43, month 4: 4.8%Bush 43, month 7: 3.8%Bush 43, month 10: 2.5%Bush 43, month 13: 1.7%Bush 43, month 16: 1.8%Bush 43, month 19: 1.7%Bush 43, month 22: 1.8%Bush 43, month 25: 1.2%Bush 43, month 28: 1.3%Bush 43, month 31: 1.0%Bush 43, month 34: 1.0%Bush 43, month 37: 1.0%Bush 43, month 40: 1.0%Bush 43, month 43: 1.3%Bush 43, month 46: 1.8%Bush 43, month 48: 2.2%Bush 43Obama, month 1: 0.1%Obama, month 4: 0.1%Obama, month 7: 0.2%Obama, month 10: 0.1%Obama, month 13: 0.1%Obama, month 16: 0.2%Obama, month 19: 0.2%Obama, month 22: 0.2%Obama, month 25: 0.2%Obama, month 28: 0.1%Obama, month 31: 0.1%Obama, month 34: 0.1%Obama, month 37: 0.1%Obama, month 40: 0.1%Obama, month 43: 0.2%Obama, month 46: 0.2%Obama, month 48: 0.2%ObamaTrump I, month 1: 0.7%Trump I, month 4: 0.9%Trump I, month 7: 1.1%Trump I, month 10: 1.1%Trump I, month 13: 1.4%Trump I, month 16: 1.7%Trump I, month 19: 1.9%Trump I, month 22: 2.2%Trump I, month 25: 2.4%Trump I, month 28: 2.4%Trump I, month 31: 2.4%Trump I, month 34: 1.8%Trump I, month 37: 1.6%Trump I, month 40: 0.1%Trump I, month 43: 0.1%Trump I, month 46: 0.1%Trump I, month 48: 0.1%Trump IBiden, month 1: 0.1%Biden, month 4: 0.1%Biden, month 7: 0.1%Biden, month 10: 0.1%Biden, month 13: 0.1%Biden, month 16: 0.3%Biden, month 19: 1.7%Biden, month 22: 3.1%Biden, month 25: 4.3%Biden, month 28: 4.8%Biden, month 31: 5.1%Biden, month 34: 5.3%Biden, month 37: 5.3%Biden, month 40: 5.3%Biden, month 43: 5.3%Biden, month 46: 4.8%Biden, month 48: 4.5%BidenTrump II, month 1: 4.3%Trump II, month 4: 4.3%Trump II, month 7: 4.3%Trump II, month 10: 4.1%Trump II, month 13: 3.6%Trump II, month 16: 3.6%Trump II, month 19: 3.6%Trump II, month 22: 3.9%Trump II
Interest Rate, months 1–48 of each term. Highlighted: Trump II.

Every administration at month 22

Federal Funds Rate at month 22 in office, 10 administrations ranked lowest (best) to highest. Average of all 10: 4.9%.
RankAdministrationValue at month 22Change since month 1Latest / end of month 48Primary federal source
#1Barack Obama0.2%+0.0 pts0.2% (month 48)Federal Reserve · FEDFUNDS
#2George W. Bush1.8%−4.2 pts2.2% (month 48)Federal Reserve · FEDFUNDS
#3Donald Trump (first term)2.2%+1.5 pts0.1% (month 48)Federal Reserve · FEDFUNDS
#4Joe Biden3.1%+3.0 pts4.5% (month 48)Federal Reserve · FEDFUNDS
#5Donald Trump (second term) · in office3.9%−0.5 pts3.9% (month 22)Federal Reserve · FEDFUNDS
#6Bill Clinton4.8%+1.7 pts5.3% (month 48)Federal Reserve · FEDFUNDS
#7Richard Nixon6.2%−0.1 pts5.3% (month 48)Federal Reserve · FEDFUNDS
#8George H. W. Bush8.1%−1.0 pts2.9% (month 48)Federal Reserve · FEDFUNDS
#9Jimmy Carter9.0%+4.4 pts18.9% (month 48)Federal Reserve · FEDFUNDS
#10Ronald Reagan9.7%−9.4 pts8.4% (month 48)Federal Reserve · FEDFUNDS

Methodology and source verification

Effective federal funds rate, monthly average (Federal Reserve). Set by the Fed, not the president; shown for context.

Every administration is aligned to its own inauguration: month 1 is the month it took office, and the comparison runs to month 48 (the first term). Each administration is compared at the same month in office, so a president halfway through a term is never measured against another's full four years.

Primary source: Federal Reserve. Retrieved from the Federal Reserve Bank of St. Louis (FRED), series FEDFUNDS, refreshed hourly. Latest observation 2026-10-01, first published 2026-11-02. Full methods: methodology.

Federal Funds Rate by president

Federal Funds Rate under Richard NixonFederal Funds Rate under Jimmy CarterFederal Funds Rate under Ronald ReaganFederal Funds Rate under George H. W. BushFederal Funds Rate under Bill ClintonFederal Funds Rate under George W. BushFederal Funds Rate under Barack ObamaFederal Funds Rate under Donald Trump (first term)Federal Funds Rate under Joe BidenFederal Funds Rate under Donald Trump (second term)

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