> ## Documentation Index > Fetch the complete documentation index at: https://developer.hayinsights.com/llms.txt > Use this file to discover all available pages before exploring further. # US Fed Funds rate — daily EFFR, percentiles, target range and IORB > Daily Effective Federal Funds Rate (EFFR) for the United States, with the distribution of the same day's trades (1st, 25th, 75th and 99th percentiles and volume), the FOMC target range in force, the rate the Fed pays on reserves (IORB, IOER before 2021-07-29) and the EFFR − IORB spread in basis points. `points` has one entry per New York Fed business day, oldest first; days the Fed does not publish have no entry. A figure that is not out yet is `null` — never 0 (for example IORB on the newest day before FRED updates, which also leaves `spreadIorbBp` `null`). `fomcDecisions` lists the FOMC decisions whose effective date falls in the window, for drawing vertical markers. The New York Fed publishes day D at about 9:00 a.m. New York time on business day D+1. History starts on 2016-03-01, when the New York Fed changed the EFFR's source and method; percentiles and volume before that date are not comparable. **Terms of use.** `meta.terms_notice` carries the notice the New York Fed requires next to any EFFR figure you publish. Sources: Federal Reserve Bank of New York (EFFR, percentiles, volume); FRED, Federal Reserve Bank of St. Louis (IORB, IOER, target range). ## OpenAPI ````yaml /openapi.yaml get /openapi/v1/macro/fed-funds/us/daily openapi: 3.1.0 info: title: HayInsights Open API version: 0.1.0 description: > Programmatic access to the **HayInsights** financial-data hub — commodities, crypto, ETF, FX, macroeconomic, real-estate, news, economic-calendar and market-index datasets, served from a single API surface under `/openapi/v1/*`. This specification is the **single source of truth** for the public API surface — shared by SDK codegen, the reference docs, and (later) the mock server / contract tests. ## Authentication Every request must carry your API key in the `X-API-Key` header. There is a single authentication tier — no request signing. Create and manage keys in the HayInsights dashboard (Account → API keys). See **Authentication**. ## Plans & quota Access to each data domain and your request quota are governed by the subscription plan attached to your key. Each endpoint consumes a **weighted** amount of your per-minute quota; every response carries `X-RateLimit-*` headers. See **Rate limits** and **Plans & features**. contact: {} servers: - url: https://api-v2.hayinsights.com description: Production security: - HayInsightsApiKey: [] tags: - name: Commodities description: >- Spot prices, top movers, gold–DXY correlation and historical series for energy, metals and agricultural commodities. - name: Crypto description: >- Crypto market overview, dominance, bubble map, on-chain and derivatives metrics. - name: ETF description: >- Exchange-traded fund listings, performance & net-flow rankings, heatmap, holdings, NAV growth, fund composition and Bank of Japan ETF holdings. - name: FX description: >- Foreign-exchange summary, live table, 90-day correlation matrix and the emerging-market stress monitor. - name: Macro description: >- Macroeconomic indicators — GDP, CPI/PCE, exchange rates, population, central-government debt, policy rates / bond yields, interbank rates, FDI, trade by region and the manufacturing PMI. - name: Real Estate description: >- Land prices, transaction-level records, administrative geography (provinces / wards) and choropleth GeoJSON, by country. - name: News description: >- Market news headlines with per-article sentiment, plus an aggregate sentiment reading over a rolling window. - name: Calendar description: >- Economic calendar — rate decisions, CPI and GDP releases, market holidays and asset-level events. - name: Market description: >- Index snapshots and global index closes — levels and daily moves for S&P 500, Nasdaq, Nikkei, VN-Index and others. - name: Equities description: >- Japanese stock detail (Tokyo Stock Exchange) — end-of-day snapshot, corporate events, daily prices, financial statements and sector peers — plus Vietnamese stock (HOSE / HNX / UPCoM) daily prices and financial statements. paths: /openapi/v1/macro/fed-funds/us/daily: get: tags: - Macro summary: US Fed Funds rate — daily EFFR, percentiles, target range and IORB description: > Daily Effective Federal Funds Rate (EFFR) for the United States, with the distribution of the same day's trades (1st, 25th, 75th and 99th percentiles and volume), the FOMC target range in force, the rate the Fed pays on reserves (IORB, IOER before 2021-07-29) and the EFFR − IORB spread in basis points. `points` has one entry per New York Fed business day, oldest first; days the Fed does not publish have no entry. A figure that is not out yet is `null` — never 0 (for example IORB on the newest day before FRED updates, which also leaves `spreadIorbBp` `null`). `fomcDecisions` lists the FOMC decisions whose effective date falls in the window, for drawing vertical markers. The New York Fed publishes day D at about 9:00 a.m. New York time on business day D+1. History starts on 2016-03-01, when the New York Fed changed the EFFR's source and method; percentiles and volume before that date are not comparable. **Terms of use.** `meta.terms_notice` carries the notice the New York Fed requires next to any EFFR figure you publish. Sources: Federal Reserve Bank of New York (EFFR, percentiles, volume); FRED, Federal Reserve Bank of St. Louis (IORB, IOER, target range). operationId: macroFedFundsUsDaily parameters: - name: period in: query required: false description: > Window, counted back from the latest day that has an EFFR (not from today). Case-insensitive. | Value | Window | | --- | --- | | `1Y` | 12 months | | `3Y` | 36 months | | `ALL` | everything from 2016-03-01 (about 2,700 days) | schema: type: string enum: - 1Y - 3Y - ALL default: 1Y example: 1Y responses: '200': description: Daily Fed Funds series for the requested window. content: application/json: schema: $ref: '#/components/schemas/MacroFedFundsUsDailyResponse' example: success: true statusCode: 200 data: country: us period: 1Y from: '2025-11-07' to: '2026-11-06' latestDate: '2026-11-06' knowledgeAt: '2026-11-07T14:12:03.000Z' wasRestated: false points: - date: '2026-10-28' effr: 3.88 p01: 3.83 p25: 3.87 p75: 3.89 p99: 3.95 volumeBn: 115 targetLow: 3.75 targetHigh: 4 iorb: 3.9 spreadIorbBp: -2 reserveRate: IORB - date: '2026-10-29' effr: 3.88 p01: 3.83 p25: 3.87 p75: 3.89 p99: 3.94 volumeBn: 117 targetLow: 3.75 targetHigh: 4 iorb: 3.9 spreadIorbBp: -2 reserveRate: IORB - date: '2026-11-06' effr: 3.88 p01: 3.82 p25: 3.86 p75: 3.89 p99: 3.96 volumeBn: 112 targetLow: 3.75 targetHigh: 4 iorb: null spreadIorbBp: null reserveRate: null fomcDecisions: - decisionDate: '2026-10-28' effectiveDate: '2026-10-29' action: HOLD changeBp: 0 meta: source: - >- Federal Reserve Bank of New York — Effective Federal Funds Rate (Markets Data API) - >- FRED (St. Louis Fed) — IORB, IOER and the federal funds target range as_of: '2026-11-06' unit: rate: percent_per_annum volumeBn: usd_billion spreadIorbBp: basis_points knowledge_at: '2026-11-07T14:12:03.000Z' classification: RAW: - effr - p01 - p25 - p75 - p99 - volumeBn - targetLow - targetHigh - iorb DERIVED: - reserveRate COMPUTED: - spreadIorbBp formula_version: spreadIorbBp: 'v1: (effr - iorb) * 100' was_restated: false terms_notice: >- The Effective Federal Funds Rate (EFFR) is subject to the Terms of Use posted at newyorkfed.org. The New York Fed is not responsible for publication of the EFFR by HayInsights, does not sanction or endorse any particular republication, and has no liability for your use. served_from_cache: false cache_expires_at: '2026-11-08T02:12:03.000Z' timestamp: '2026-11-07T14:12:03.000Z' '400': $ref: '#/components/responses/BadRequest' '401': $ref: '#/components/responses/Unauthorized' '403': $ref: '#/components/responses/Forbidden' '429': $ref: '#/components/responses/RateLimited' '500': $ref: '#/components/responses/InternalError' components: schemas: MacroFedFundsUsDailyResponse: allOf: - $ref: '#/components/schemas/EnvelopeBase' - type: object required: - data properties: data: $ref: '#/components/schemas/FedFundsDaily' meta: $ref: '#/components/schemas/FedFundsMeta' EnvelopeBase: type: object description: > Standard success envelope shared by every endpoint. Each operation's response wrapper extends this (via `allOf`) and adds a typed `data` property. required: - success - statusCode properties: success: type: boolean const: true description: Always `true` for a successful response. example: true statusCode: type: integer description: Mirrors the HTTP status code. example: 200 meta: $ref: '#/components/schemas/Meta' FedFundsDaily: type: object description: > Daily Fed Funds data for the United States over the requested window. When nothing is on record yet, `from`, `to` and `latestDate` are `null` and `points` is empty. required: - country - period - from - to - latestDate - knowledgeAt - wasRestated - points - fomcDecisions properties: country: type: string enum: - us description: Country code, lowercase. Only the United States is available. example: us period: type: string enum: - 1Y - 3Y - ALL description: Window that was applied. example: 1Y from: type: - string - 'null' format: date description: First day of the window. example: '2025-11-07' to: type: - string - 'null' format: date description: Last day of the window — the latest day with an EFFR. example: '2026-11-06' latestDate: type: - string - 'null' format: date description: Latest business day with an EFFR (same as `to`). example: '2026-11-06' knowledgeAt: type: - string - 'null' format: date-time description: When HayInsights last collected a figure in the window (UTC). example: '2026-11-07T14:12:03.000Z' wasRestated: type: boolean description: >- `true` when the New York Fed revised any day in the window after first publishing it. example: false points: type: array description: One entry per business day from `from` to `to`, oldest first. items: $ref: '#/components/schemas/FedFundsDailyPoint' fomcDecisions: type: array description: >- FOMC decisions whose `effectiveDate` falls inside the window, oldest first. items: $ref: '#/components/schemas/FomcDecisionMarker' FedFundsMeta: description: > Response metadata for the Fed Funds endpoints. On top of `timestamp`, it says where the numbers came from, which fields HayInsights computes, how fresh the response is, and carries the notice the New York Fed requires next to any EFFR figure. allOf: - $ref: '#/components/schemas/Meta' - type: object properties: source: type: array description: Data providers. items: type: string example: - >- Federal Reserve Bank of New York — Effective Federal Funds Rate (Markets Data API) - >- FRED (St. Louis Fed) — IORB, IOER and the federal funds target range as_of: type: - string - 'null' format: date description: > Latest business day in the response. For `/daily`, the New York Fed publishes day D at about 9:00 a.m. New York time on business day D+1. example: '2026-11-06' unit: type: object description: Unit of each kind of numeric field. additionalProperties: type: string example: rate: percent_per_annum volumeBn: usd_billion spreadIorbBp: basis_points knowledge_at: type: - string - 'null' format: date-time description: '`/daily` only — same as `data.knowledgeAt`.' example: '2026-11-07T14:12:03.000Z' classification: type: object description: > How each field was produced: `RAW` is passed through as the source published it, `DERIVED` follows from a published rule, `COMPUTED` is calculated by HayInsights. additionalProperties: type: array items: type: string example: RAW: - effr - p01 - p25 - p75 - p99 - volumeBn - targetLow - targetHigh - iorb DERIVED: - reserveRate COMPUTED: - spreadIorbBp formula_version: type: object description: Version tag of the formula behind each computed field. additionalProperties: type: string example: spreadIorbBp: 'v1: (effr - iorb) * 100' was_restated: type: boolean description: '`/daily` only — same as `data.wasRestated`.' example: false terms_notice: type: string description: > Notice required by the New York Fed's Terms of Use. Show it with any EFFR figure you publish. example: >- The Effective Federal Funds Rate (EFFR) is subject to the Terms of Use posted at newyorkfed.org. The New York Fed is not responsible for publication of the EFFR by HayInsights, does not sanction or endorse any particular republication, and has no liability for your use. served_from_cache: type: boolean description: Whether the response was served from cache. example: false cache_expires_at: type: - string - 'null' format: date-time description: >- When the cached copy expires (12 h; it is dropped as soon as a new figure is collected). example: '2026-11-07T02:12:03.000Z' ErrorBody: type: object description: Standard error envelope returned for every 4xx / 5xx response. required: - success - statusCode - error properties: success: type: boolean const: false description: Always `false` for an error response. example: false statusCode: type: integer description: Mirrors the HTTP status code. example: 401 error: $ref: '#/components/schemas/ErrorDetail' meta: $ref: '#/components/schemas/Meta' Meta: type: object description: >- Response metadata. Always present; `timestamp` is the server time the response was generated. required: - timestamp properties: timestamp: type: string format: date-time description: Server time when the response was generated (ISO 8601). example: '2026-06-19T08:31:59.478Z' additionalProperties: true FedFundsDailyPoint: type: object description: > One New York Fed business day. Days the Fed does not publish (weekends, US holidays) have no entry. A figure that is not out yet is `null` — never 0. required: - date - effr - p01 - p25 - p75 - p99 - volumeBn - targetLow - targetHigh - iorb - spreadIorbBp - reserveRate properties: date: type: string format: date description: Business day the rate applies to (New York). example: '2026-10-29' effr: type: - number - 'null' description: >- Effective Federal Funds Rate, % per year — the volume-weighted median of overnight federal funds trades. example: 3.88 p01: type: - number - 'null' description: 1st percentile of the same day's trades, % per year. example: 3.83 p25: type: - number - 'null' description: 25th percentile, % per year. example: 3.87 p75: type: - number - 'null' description: 75th percentile, % per year. example: 3.89 p99: type: - number - 'null' description: 99th percentile, % per year. example: 3.94 volumeBn: type: - number - 'null' description: Total volume traded that day, in **billion** US dollars. example: 117 targetLow: type: - number - 'null' description: Lower bound of the FOMC target range in force that day, % per year. example: 3.75 targetHigh: type: - number - 'null' description: Upper bound of the FOMC target range in force that day, % per year. example: 4 iorb: type: - number - 'null' description: > Interest rate the Fed pays on reserve balances, % per year. Before 2021-07-29 this is IOER (interest on excess reserves) — see `reserveRate`. example: 3.9 spreadIorbBp: type: - number - 'null' description: >- `(effr − iorb) × 100`, in basis points. `null` when either rate is missing. example: -2 reserveRate: type: - string - 'null' enum: - IORB - IOER - null description: >- Name of the rate in `iorb` on that day — `IOER` before 2021-07-29, `IORB` from then. `null` when `iorb` is `null`. example: IORB FomcDecisionMarker: type: object description: >- An FOMC rate decision whose effective date falls inside the window — one vertical marker on a daily chart. required: - decisionDate - effectiveDate - action - changeBp properties: decisionDate: type: string format: date description: Day the FOMC announced the decision. example: '2026-10-28' effectiveDate: type: string format: date description: >- First business day the new target range applies (usually the day after the decision). example: '2026-10-29' action: type: - string - 'null' enum: - HIKE - CUT - HOLD - null description: >- What the FOMC did to the target range. `null` for the first meeting on record, which has nothing to compare against. example: HOLD changeBp: type: - number - 'null' description: Change of the target range's upper bound, in basis points (signed). example: 0 ErrorDetail: type: object description: Error detail object carried under `error` in the error envelope. required: - code - message properties: code: type: string description: > Machine-readable error code. Specific for authentication / quota errors (e.g. `API_KEY_REQUIRED`, `API_KEY_INVALID`, `FEATURE_NOT_IN_PLAN`, `RATE_LIMIT_EXCEEDED`). For validation (400) and not-found (404) the code is currently `INTERNAL_ERROR` and the HTTP status carries the semantics. example: API_KEY_INVALID message: description: Human-readable message, or a list of validation messages (400). oneOf: - type: string - type: array items: type: string example: Invalid API key responses: BadRequest: description: >- Invalid or missing parameter — bad enum, range, format, or a missing required query parameter. content: application/json: schema: $ref: '#/components/schemas/ErrorBody' example: success: false statusCode: 400 error: code: INTERNAL_ERROR message: - >- Invalid type parameter. Must be "gdp", "cpi", "pce", or "import-export" - Type parameter is required meta: error: Bad Request statusCode: 400 timestamp: '2026-06-19T08:34:08.081Z' Unauthorized: description: >- Missing, invalid, disabled or expired API key. Send a valid key in the `X-API-Key` header. content: application/json: schema: $ref: '#/components/schemas/ErrorBody' example: success: false statusCode: 401 error: code: API_KEY_INVALID message: Invalid API key meta: timestamp: '2026-06-19T08:34:08.023Z' Forbidden: description: >- Your subscription plan does not include this data feature, or your key's scope denies it. content: application/json: schema: $ref: '#/components/schemas/ErrorBody' example: success: false statusCode: 403 error: code: FEATURE_NOT_IN_PLAN message: Your plan does not include this feature meta: timestamp: '2026-06-19T08:34:08.100Z' RateLimited: description: > Rate limit exceeded — you have consumed your plan's per-minute weight budget. Wait until `X-RateLimit-Reset` (or `Retry-After` seconds) then retry. headers: X-RateLimit-Limit: $ref: '#/components/headers/XRateLimitLimit' X-RateLimit-Remaining: $ref: '#/components/headers/XRateLimitRemaining' X-RateLimit-Reset: $ref: '#/components/headers/XRateLimitReset' X-RateLimit-Weight-Used: $ref: '#/components/headers/XRateLimitWeightUsed' Retry-After: $ref: '#/components/headers/RetryAfter' content: application/json: schema: $ref: '#/components/schemas/ErrorBody' example: success: false statusCode: 429 error: code: RATE_LIMIT_EXCEEDED message: Rate limit exceeded meta: timestamp: '2026-06-19T08:34:09.000Z' InternalError: description: Unexpected server error. Retry after a short exponential backoff. content: application/json: schema: $ref: '#/components/schemas/ErrorBody' example: success: false statusCode: 500 error: code: INTERNAL_ERROR message: Internal server error meta: timestamp: '2026-06-19T08:34:10.000Z' headers: XRateLimitLimit: description: Your plan's request-weight budget per 1-minute window. schema: type: integer example: 1000 XRateLimitRemaining: description: Remaining request weight in the current 1-minute window. schema: type: integer example: 997 XRateLimitReset: description: Unix timestamp (seconds) when the current rate-limit window resets. schema: type: integer format: int64 example: 1781857979 XRateLimitWeightUsed: description: Request weight consumed by this call (see each endpoint's weight). schema: type: integer example: 3 RetryAfter: description: Seconds to wait before retrying. Present on 429 responses. schema: type: integer example: 30 securitySchemes: HayInsightsApiKey: type: apiKey in: header name: X-API-Key description: > Your HayInsights API key (prefixed `apk_`). Create and manage keys in the HayInsights dashboard (Account → API keys). Send it in the `X-API-Key` header on **every** request to `/openapi/v1/*`. Which data domains you may access and your request quota are both governed by the subscription plan attached to the key — see the **Plans & features** and **Rate limits** guides. ```` This documentation is built and hosted on [Mintlify](https://mintlify.com), a developer documentation platform.