Table Data - 1-Year Treasury Constant Maturity Minus Federal Funds Rate

Title	1-Year Treasury Constant Maturity Minus Federal Funds Rate
Series ID	T1YFFM
Source	Federal Reserve Bank of St. Louis
Release	Interest Rate Spreads (Not a Press Release)
Seasonal Adjustment	Not Seasonally Adjusted
Frequency	Monthly
Units	Percent
Date Range	1954-07-01 to 2024-10-01
Last Updated	2024-11-01 4:01 PM CDT
Notes	Series is calculated as the spread between 1-Year Treasury Constant Maturity (BC_1YEARM) and Effective Federal Funds Rate (https://fred.stlouisfed.org/series/EFFRM). Starting with the update on June 21, 2019, the Treasury bond data used in calculating interest rate spreads is obtained directly from the U.S. Treasury Department.

DATE	VALUE
1954-07-01	0.04
1954-08-01	-0.34
1954-09-01	-0.03
1954-10-01	0.32
1954-11-01	0.31
1954-12-01	-0.07
1955-01-01	0.00
1955-02-01	0.28
1955-03-01	0.24
1955-04-01	0.32
1955-05-01	0.47
1955-06-01	0.27
1955-07-01	0.34
1955-08-01	0.41
1955-09-01	0.18
1955-10-01	0.15
1955-11-01	0.13
1955-12-01	0.25
1956-01-01	0.13
1956-02-01	-0.01
1956-03-01	0.11
1956-04-01	0.30
1956-05-01	0.19
1956-06-01	0.03
1956-07-01	0.01
1956-08-01	0.37
1956-09-01	0.40
1956-10-01	0.32
1956-11-01	0.56
1956-12-01	0.74
1957-01-01	0.53
1957-02-01	0.38
1957-03-01	0.46
1957-04-01	0.49
1957-05-01	0.48
1957-06-01	0.65
1957-07-01	0.82
1957-08-01	0.77
1957-09-01	0.60
1957-10-01	0.51
1957-11-01	0.29
1957-12-01	0.20
1958-01-01	-0.07
1958-02-01	0.32
1958-03-01	0.64
1958-04-01	0.19
1958-05-01	0.74
1958-06-01	0.30
1958-07-01	0.93
1958-08-01	0.97
1958-09-01	1.29
1958-10-01	1.39
1958-11-01	0.83
1958-12-01	0.87
1959-01-01	0.88
1959-02-01	1.11
1959-03-01	0.81
1959-04-01	0.76
1959-05-01	1.06
1959-06-01	0.68
1959-07-01	0.92
1959-08-01	0.92
1959-09-01	1.24
1959-10-01	0.82
1959-11-01	0.81
1959-12-01	1.15
1960-01-01	1.04
1960-02-01	0.69
1960-03-01	0.18
1960-04-01	0.12
1960-05-01	0.36
1960-06-01	0.04
1960-07-01	-0.03
1960-08-01	-0.03
1960-09-01	0.47
1960-10-01	0.57
1960-11-01	0.64
1960-12-01	0.88
1961-01-01	1.36
1961-02-01	0.39
1961-03-01	0.86
1961-04-01	1.39
1961-05-01	0.89
1961-06-01	1.33
1961-07-01	1.75
1961-08-01	1.06
1961-09-01	1.18
1961-10-01	0.79
1961-11-01	0.46
1961-12-01	0.85
1962-01-01	1.13
1962-02-01	0.91
1962-03-01	0.21
1962-04-01	0.21
1962-05-01	0.67
1962-06-01	0.35
1962-07-01	0.58
1962-08-01	0.27
1962-09-01	0.16
1962-10-01	0.08
1962-11-01	0.06
1962-12-01	0.08
1963-01-01	0.12
1963-02-01	0.01
1963-03-01	0.05
1963-04-01	0.21
1963-05-01	0.12
1963-06-01	0.21
1963-07-01	0.46
1963-08-01	0.04
1963-09-01	0.09
1963-10-01	0.14
1963-11-01	0.26
1963-12-01	0.43
1964-01-01	0.31
1964-02-01	0.30
1964-03-01	0.48
1964-04-01	0.44
1964-05-01	0.34
1964-06-01	0.33
1964-07-01	0.30
1964-08-01	0.24
1964-09-01	0.39
1964-10-01	0.50
1964-11-01	0.39
1964-12-01	0.17
1965-01-01	0.04
1965-02-01	0.05
1965-03-01	0.02
1965-04-01	-0.05
1965-05-01	-0.07
1965-06-01	-0.05
1965-07-01	-0.11
1965-08-01	-0.05
1965-09-01	0.19
1965-10-01	0.22
1965-11-01	0.27
1965-12-01	0.40
1966-01-01	0.46
1966-02-01	0.34
1966-03-01	0.32
1966-04-01	0.23
1966-05-01	0.03
1966-06-01	-0.20
1966-07-01	-0.13
1966-08-01	0.01
1966-09-01	0.42
1966-10-01	0.05
1966-11-01	-0.22
1966-12-01	-0.20
1967-01-01	-0.19
1967-02-01	-0.29
1967-03-01	-0.18
1967-04-01	0.06
1967-05-01	0.21
1967-06-01	0.50
1967-07-01	1.22
1967-08-01	1.23
1967-09-01	1.25
1967-10-01	1.49
1967-11-01	1.48
1967-12-01	1.20
1968-01-01	0.83
1968-02-01	0.70
1968-03-01	0.53
1968-04-01	-0.05
1968-05-01	0.03
1968-06-01	-0.09
1968-07-01	-0.37
1968-08-01	-0.60
1968-09-01	-0.33
1968-10-01	-0.34
1968-11-01	-0.07
1968-12-01	0.17
1969-01-01	0.04
1969-02-01	-0.20
1969-03-01	-0.45
1969-04-01	-1.15
1969-05-01	-2.25
1969-06-01	-1.86
1969-07-01	-1.01
1969-08-01	-1.65
1969-09-01	-1.33
1969-10-01	-1.36
1969-11-01	-0.96
1969-12-01	-0.80
1970-01-01	-0.88
1970-02-01	-1.39
1970-03-01	-0.79
1970-04-01	-1.04
1970-05-01	-0.19
1970-06-01	-0.05
1970-07-01	-0.11
1970-08-01	0.37
1970-09-01	0.44
1970-10-01	0.23
1970-11-01	-0.09
1970-12-01	0.10
1971-01-01	0.43
1971-02-01	0.17
1971-03-01	-0.02
1971-04-01	0.15
1971-05-01	0.41
1971-06-01	0.73
1971-07-01	0.73
1971-08-01	0.24
1971-09-01	-0.14
1971-10-01	-0.29
1971-11-01	-0.24
1971-12-01	0.46
1972-01-01	0.78
1972-02-01	0.98
1972-03-01	0.84
1972-04-01	0.79
1972-05-01	0.37
1972-06-01	0.47
1972-07-01	0.41
1972-08-01	0.18
1972-09-01	0.65
1972-10-01	0.48
1972-11-01	0.21
1972-12-01	0.19
1973-01-01	-0.05
1973-02-01	-0.39
1973-03-01	-0.24
1973-04-01	-0.27
1973-05-01	-0.95
1973-06-01	-1.18
1973-07-01	-2.01
1973-08-01	-1.68
1973-09-01	-2.47
1973-10-01	-2.61
1973-11-01	-2.46
1973-12-01	-2.68
1974-01-01	-2.23
1974-02-01	-2.09
1974-03-01	-1.59
1974-04-01	-1.89
1974-05-01	-2.53
1974-06-01	-3.26
1974-07-01	-4.12
1974-08-01	-2.65
1974-09-01	-2.47
1974-10-01	-2.01
1974-11-01	-1.79
1974-12-01	-1.22
1975-01-01	-0.30
1975-02-01	-0.26
1975-03-01	0.57
1975-04-01	1.41
1975-05-01	1.17
1975-06-01	0.74
1975-07-01	1.01
1975-08-01	1.56
1975-09-01	1.51
1975-10-01	1.13
1975-11-01	1.27
1975-12-01	1.40
1976-01-01	0.94
1976-02-01	1.14
1976-03-01	1.37
1976-04-01	1.10
1976-05-01	1.11
1976-06-01	1.04
1976-07-01	0.89
1976-08-01	0.71
1976-09-01	0.59
1976-10-01	0.48
1976-11-01	0.34
1976-12-01	0.24
1977-01-01	0.68
1977-02-01	0.79
1977-03-01	0.81
1977-04-01	0.71
1977-05-01	0.49
1977-06-01	0.41
1977-07-01	0.52
1977-08-01	0.47
1977-09-01	0.39
1977-10-01	0.50
1977-11-01	0.44
1977-12-01	0.40
1978-01-01	0.58
1978-02-01	0.56
1978-03-01	0.52
1978-04-01	0.56
1978-05-01	0.46
1978-06-01	0.49
1978-07-01	0.58
1978-08-01	0.27
1978-09-01	0.19
1978-10-01	0.18
1978-11-01	0.25
1978-12-01	0.27
1979-01-01	0.34
1979-02-01	0.18
1979-03-01	0.16
1979-04-01	0.11
1979-05-01	-0.12
1979-06-01	-0.72
1979-07-01	-0.83
1979-08-01	-0.96
1979-09-01	-0.59
1979-10-01	-1.33
1979-11-01	-0.79
1979-12-01	-1.80
1980-01-01	-1.76
1980-02-01	-0.21
1980-03-01	-1.37
1980-04-01	-4.31
1980-05-01	-1.59
1980-06-01	-1.31
1980-07-01	-0.38
1980-08-01	0.63
1980-09-01	0.65
1980-10-01	-0.32
1980-11-01	-1.70
1980-12-01	-4.02
1981-01-01	-5.00
1981-02-01	-1.36
1981-03-01	-0.99
1981-04-01	-1.40
1981-05-01	-2.32
1981-06-01	-4.24
1981-07-01	-3.32
1981-08-01	-1.10
1981-09-01	0.65
1981-10-01	0.30
1981-11-01	-0.90
1981-12-01	0.48
1982-01-01	1.10
1982-02-01	-0.05
1982-03-01	-0.73
1982-04-01	-0.96
1982-05-01	-1.11
1982-06-01	-0.08
1982-07-01	0.65
1982-08-01	1.31
1982-09-01	0.54
1982-10-01	-0.39
1982-11-01	-0.04
1982-12-01	-0.04
1983-01-01	-0.06
1983-02-01	0.41
1983-03-01	0.27
1983-04-01	0.18
1983-05-01	0.27
1983-06-01	0.68
1983-07-01	0.83
1983-08-01	0.97
1983-09-01	0.71
1983-10-01	0.33
1983-11-01	0.60
1983-12-01	0.64
1984-01-01	0.34
1984-02-01	0.45
1984-03-01	0.68
1984-04-01	0.61
1984-05-01	1.34
1984-06-01	1.02
1984-07-01	0.80
1984-08-01	0.18
1984-09-01	0.28
1984-10-01	0.91
1984-11-01	0.39
1984-12-01	0.95
1985-01-01	0.67
1985-02-01	0.79
1985-03-01	1.28
1985-04-01	0.87
1985-05-01	0.49
1985-06-01	0.27
1985-07-01	-0.02
1985-08-01	0.15
1985-09-01	0.15
1985-10-01	0.02
1985-11-01	-0.17
1985-12-01	-0.60
1986-01-01	-0.41
1986-02-01	-0.25
1986-03-01	-0.45
1986-04-01	-0.55
1986-05-01	-0.20
1986-06-01	-0.19
1986-07-01	-0.29
1986-08-01	-0.24
1986-09-01	-0.12
1986-10-01	-0.13
1986-11-01	-0.24
1986-12-01	-1.04
1987-01-01	-0.65
1987-02-01	-0.14
1987-03-01	-0.10
1987-04-01	0.13
1987-05-01	0.15
1987-06-01	0.07
1987-07-01	0.10
1987-08-01	0.30
1987-09-01	0.45
1987-10-01	0.30
1987-11-01	0.27
1987-12-01	0.40
1988-01-01	0.16
1988-02-01	0.06
1988-03-01	0.13
1988-04-01	0.14
1988-05-01	0.31
1988-06-01	-0.02
1988-07-01	0.00
1988-08-01	0.16
1988-09-01	-0.10
1988-10-01	-0.19
1988-11-01	0.13
1988-12-01	0.23
1989-01-01	-0.07
1989-02-01	-0.11
1989-03-01	-0.28
1989-04-01	-0.48
1989-05-01	-0.83
1989-06-01	-1.09
1989-07-01	-1.35
1989-08-01	-0.81
1989-09-01	-0.80
1989-10-01	-0.85
1989-11-01	-0.78
1989-12-01	-0.73
1990-01-01	-0.31
1990-02-01	-0.13
1990-03-01	0.07
1990-04-01	0.14
1990-05-01	0.14
1990-06-01	-0.19
1990-07-01	-0.21
1990-08-01	-0.35
1990-09-01	-0.44
1990-10-01	-0.56
1990-11-01	-0.50
1990-12-01	-0.26
1991-01-01	-0.27
1991-02-01	0.02
1991-03-01	0.28
1991-04-01	0.33
1991-05-01	0.35
1991-06-01	0.46
1991-07-01	0.49
1991-08-01	0.12
1991-09-01	0.12
1991-10-01	0.12
1991-11-01	0.08
1991-12-01	-0.05
1992-01-01	0.12
1992-02-01	0.23
1992-03-01	0.65
1992-04-01	0.57
1992-05-01	0.37
1992-06-01	0.41
1992-07-01	0.35
1992-08-01	0.17
1992-09-01	-0.04
1992-10-01	0.20
1992-11-01	0.59
1992-12-01	0.79
1993-01-01	0.48
1993-02-01	0.36
1993-03-01	0.26
1993-04-01	0.28
1993-05-01	0.36
1993-06-01	0.50
1993-07-01	0.41
1993-08-01	0.41
1993-09-01	0.27
1993-10-01	0.40
1993-11-01	0.56
1993-12-01	0.65
1994-01-01	0.49
1994-02-01	0.62
1994-03-01	0.98
1994-04-01	1.26
1994-05-01	1.30
1994-06-01	1.02
1994-07-01	1.22
1994-08-01	1.09
1994-09-01	1.03
1994-10-01	1.35
1994-11-01	1.25
1994-12-01	1.69
1995-01-01	1.52
1995-02-01	0.78
1995-03-01	0.45
1995-04-01	0.22
1995-05-01	-0.01
1995-06-01	-0.36
1995-07-01	-0.26
1995-08-01	0.01
1995-09-01	-0.18
1995-10-01	-0.17
1995-11-01	-0.37
1995-12-01	-0.29
1996-01-01	-0.47
1996-02-01	-0.28
1996-03-01	0.03
1996-04-01	0.32
1996-05-01	0.40
1996-06-01	0.54
1996-07-01	0.45
1996-08-01	0.45
1996-09-01	0.53
1996-10-01	0.31
1996-11-01	0.11
1996-12-01	0.18
1997-01-01	0.36
1997-02-01	0.34
1997-03-01	0.41
1997-04-01	0.48
1997-05-01	0.37
1997-06-01	0.13
1997-07-01	0.02
1997-08-01	0.02
1997-09-01	-0.02
1997-10-01	-0.04
1997-11-01	-0.06
1997-12-01	0.03
1998-01-01	-0.32
1998-02-01	-0.20
1998-03-01	-0.10
1998-04-01	-0.07
1998-05-01	-0.05
1998-06-01	-0.15
1998-07-01	-0.18
1998-08-01	-0.34
1998-09-01	-0.80
1998-10-01	-0.95
1998-11-01	-0.30
1998-12-01	-0.16
1999-01-01	-0.12
1999-02-01	-0.06
1999-03-01	-0.03
1999-04-01	-0.05
1999-05-01	0.11
1999-06-01	0.34
1999-07-01	0.04
1999-08-01	0.13
1999-09-01	0.03
1999-10-01	0.23
1999-11-01	0.13
1999-12-01	0.54
2000-01-01	0.67
2000-02-01	0.49
2000-03-01	0.37
2000-04-01	0.13
2000-05-01	0.06
2000-06-01	-0.36
2000-07-01	-0.46
2000-08-01	-0.32
2000-09-01	-0.39
2000-10-01	-0.50
2000-11-01	-0.42
2000-12-01	-0.80
2001-01-01	-1.17
2001-02-01	-0.81
2001-03-01	-1.01
2001-04-01	-0.82
2001-05-01	-0.43
2001-06-01	-0.39
2001-07-01	-0.15
2001-08-01	-0.18
2001-09-01	-0.25
2001-10-01	-0.16
2001-11-01	0.09
2001-12-01	0.40
2002-01-01	0.43
2002-02-01	0.49
2002-03-01	0.84
2002-04-01	0.73
2002-05-01	0.60
2002-06-01	0.45
2002-07-01	0.23
2002-08-01	0.02
2002-09-01	-0.03
2002-10-01	-0.10
2002-11-01	0.15
2002-12-01	0.21
2003-01-01	0.12
2003-02-01	0.04
2003-03-01	-0.01
2003-04-01	0.01
2003-05-01	-0.08
2003-06-01	-0.21
2003-07-01	0.11
2003-08-01	0.28
2003-09-01	0.23
2003-10-01	0.24
2003-11-01	0.34
2003-12-01	0.33
2004-01-01	0.24
2004-02-01	0.23
2004-03-01	0.19
2004-04-01	0.43
2004-05-01	0.78
2004-06-01	1.09
2004-07-01	0.84
2004-08-01	0.59
2004-09-01	0.51
2004-10-01	0.47
2004-11-01	0.57
2004-12-01	0.51
2005-01-01	0.58
2005-02-01	0.53
2005-03-01	0.67
2005-04-01	0.53
2005-05-01	0.33
2005-06-01	0.32
2005-07-01	0.38
2005-08-01	0.37
2005-09-01	0.23
2005-10-01	0.40
2005-11-01	0.33
2005-12-01	0.19
2006-01-01	0.16
2006-02-01	0.19
2006-03-01	0.18
2006-04-01	0.11
2006-05-01	0.06
2006-06-01	0.17
2006-07-01	-0.02
2006-08-01	-0.17
2006-09-01	-0.28
2006-10-01	-0.24
2006-11-01	-0.24
2006-12-01	-0.30
2007-01-01	-0.19
2007-02-01	-0.21
2007-03-01	-0.34
2007-04-01	-0.32
2007-05-01	-0.34
2007-06-01	-0.29
2007-07-01	-0.30
2007-08-01	-0.55
2007-09-01	-0.80
2007-10-01	-0.66
2007-11-01	-0.99
2007-12-01	-0.98
2008-01-01	-1.23
2008-02-01	-0.93
2008-03-01	-1.07
2008-04-01	-0.54
2008-05-01	0.08
2008-06-01	0.42
2008-07-01	0.27
2008-08-01	0.18
2008-09-01	0.10
2008-10-01	0.45
2008-11-01	0.68
2008-12-01	0.33
2009-01-01	0.29
2009-02-01	0.40
2009-03-01	0.46
2009-04-01	0.40
2009-05-01	0.32
2009-06-01	0.30
2009-07-01	0.32
2009-08-01	0.30
2009-09-01	0.25
2009-10-01	0.25
2009-11-01	0.19
2009-12-01	0.25
2010-01-01	0.24
2010-02-01	0.22
2010-03-01	0.24
2010-04-01	0.25
2010-05-01	0.17
2010-06-01	0.14
2010-07-01	0.11
2010-08-01	0.07
2010-09-01	0.07
2010-10-01	0.04
2010-11-01	0.06
2010-12-01	0.11
2011-01-01	0.10
2011-02-01	0.13
2011-03-01	0.12
2011-04-01	0.15
2011-05-01	0.10
2011-06-01	0.09
2011-07-01	0.12
2011-08-01	0.01
2011-09-01	0.02
2011-10-01	0.04
2011-11-01	0.03
2011-12-01	0.05
2012-01-01	0.04
2012-02-01	0.06
2012-03-01	0.06
2012-04-01	0.04
2012-05-01	0.03
2012-06-01	0.03
2012-07-01	0.03
2012-08-01	0.05
2012-09-01	0.04
2012-10-01	0.02
2012-11-01	0.02
2012-12-01	0.00
2013-01-01	0.01
2013-02-01	0.01
2013-03-01	0.01
2013-04-01	-0.03
2013-05-01	0.01
2013-06-01	0.05
2013-07-01	0.03
2013-08-01	0.05
2013-09-01	0.04
2013-10-01	0.03
2013-11-01	0.04
2013-12-01	0.04
2014-01-01	0.05
2014-02-01	0.05
2014-03-01	0.05
2014-04-01	0.02
2014-05-01	0.01
2014-06-01	0.00
2014-07-01	0.02
2014-08-01	0.02
2014-09-01	0.02
2014-10-01	0.01
2014-11-01	0.04
2014-12-01	0.09
2015-01-01	0.09
2015-02-01	0.11
2015-03-01	0.14
2015-04-01	0.11
2015-05-01	0.12
2015-06-01	0.15
2015-07-01	0.17
2015-08-01	0.24
2015-09-01	0.23
2015-10-01	0.14
2015-11-01	0.36
2015-12-01	0.41
2016-01-01	0.20
2016-02-01	0.15
2016-03-01	0.30
2016-04-01	0.19
2016-05-01	0.22
2016-06-01	0.17
2016-07-01	0.12
2016-08-01	0.17
2016-09-01	0.19
2016-10-01	0.26
2016-11-01	0.33
2016-12-01	0.33
2017-01-01	0.18
2017-02-01	0.16
2017-03-01	0.22
2017-04-01	0.14
2017-05-01	0.21
2017-06-01	0.16
2017-07-01	0.07
2017-08-01	0.07
2017-09-01	0.13
2017-10-01	0.25
2017-11-01	0.40
2017-12-01	0.40
2018-01-01	0.39
2018-02-01	0.54
2018-03-01	0.55
2018-04-01	0.46
2018-05-01	0.57
2018-06-01	0.51
2018-07-01	0.48
2018-08-01	0.54
2018-09-01	0.61
2018-10-01	0.46
2018-11-01	0.50
2018-12-01	0.39
2019-01-01	0.18
2019-02-01	0.15
2019-03-01	0.09
2019-04-01	0.00
2019-05-01	-0.05
2019-06-01	-0.38
2019-07-01	-0.44
2019-08-01	-0.35
2019-09-01	-0.25
2019-10-01	-0.22
2019-11-01	0.02
2019-12-01	0.00
2020-01-01	-0.02
2020-02-01	-0.17
2020-03-01	-0.30
2020-04-01	0.13
2020-05-01	0.11
2020-06-01	0.10
2020-07-01	0.06
2020-08-01	0.04
2020-09-01	0.04
2020-10-01	0.04
2020-11-01	0.03
2020-12-01	0.01
2021-01-01	0.01
2021-02-01	-0.01
2021-03-01	0.01
2021-04-01	-0.01
2021-05-01	-0.01
2021-06-01	-0.01
2021-07-01	-0.02
2021-08-01	-0.02
2021-09-01	0.00
2021-10-01	0.03
2021-11-01	0.10
2021-12-01	0.22
2022-01-01	0.47
2022-02-01	0.92
2022-03-01	1.14
2022-04-01	1.56
2022-05-01	1.30
2022-06-01	1.46
2022-07-01	1.37
2022-08-01	0.95
2022-09-01	1.31
2022-10-01	1.35
2022-11-01	0.98
2022-12-01	0.59
2023-01-01	0.36
2023-02-01	0.36
2023-03-01	0.03
2023-04-01	-0.15
2023-05-01	-0.14
2023-06-01	0.16
2023-07-01	0.25
2023-08-01	0.04
2023-09-01	0.11
2023-10-01	0.09
2023-11-01	-0.05
2023-12-01	-0.37
2024-01-01	-0.54
2024-02-01	-0.41
2024-03-01	-0.34
2024-04-01	-0.19
2024-05-01	-0.17
2024-06-01	-0.22
2024-07-01	-0.43
2024-08-01	-0.90
2024-09-01	-1.10
2024-10-01	-0.63

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