Rate
 Rate of interest in money and capital markets
 Federal Reserve System
 Short-term or money market
 Private securities
 Federal funds
 Not seasonally adjusted
 Monthly

--------------------------------------------------------------
This business rate series should not be used for
   most purposes.  The 7-day daily funds rate should
   be used instead.
         *****************************
The federal funds rate is the cost of borrowing
   immediately available funds, primarily for one day.
The effective rate is a weighted average of the
   reported rates at which different amounts of the
   day's trading through new york brokers occurs.

--------------------------------------------------------------
Released on 05/23/2005



         fedfund
         -------

07/1954     0.80
08/1954     1.22
09/1954     1.06
10/1954     0.85
11/1954     0.83
12/1954     1.28
01/1955     1.39
02/1955     1.29
03/1955     1.35
04/1955     1.43
05/1955     1.43
06/1955     1.64
07/1955     1.68
08/1955     1.96
09/1955     2.18
10/1955     2.24
11/1955     2.35
12/1955     2.48
01/1956     2.45
02/1956     2.50
03/1956     2.50
04/1956     2.62
05/1956     2.75
06/1956     2.71
07/1956     2.75
08/1956     2.73
09/1956     2.95
10/1956     2.96
11/1956     2.88
12/1956     2.94
01/1957     2.84
02/1957     3.00
03/1957     2.96
04/1957     3.00
05/1957     3.00
06/1957     3.00
07/1957     2.99
08/1957     3.24
09/1957     3.47
10/1957     3.50
11/1957     3.28
12/1957     2.98
01/1958     2.72
02/1958     1.67
03/1958     1.20
04/1958     1.26
05/1958     0.63
06/1958     0.93
07/1958     0.68
08/1958     1.53
09/1958     1.76
10/1958     1.80
11/1958     2.27
12/1958     2.42
01/1959     2.48
02/1959     2.43
03/1959     2.80
04/1959     2.96
05/1959     2.90
06/1959     3.39
07/1959     3.47
08/1959     3.50
09/1959     3.76
10/1959     3.98
11/1959     4.00
12/1959     3.99
01/1960     3.99
02/1960     3.97
03/1960     3.84
04/1960     3.92
05/1960     3.85
06/1960     3.32
07/1960     3.23
08/1960     2.98
09/1960     2.60
10/1960     2.47
11/1960     2.44
12/1960     1.98
01/1961     1.45
02/1961     2.54
03/1961     2.02
04/1961     1.49
05/1961     1.98
06/1961     1.73
07/1961     1.17
08/1961     2.00
09/1961     1.88
10/1961     2.26
11/1961     2.61
12/1961     2.33
01/1962     2.15
02/1962     2.37
03/1962     2.85
04/1962     2.78
05/1962     2.36
06/1962     2.68
07/1962     2.71
08/1962     2.93
09/1962     2.90
10/1962     2.90
11/1962     2.94
12/1962     2.93
01/1963     2.92
02/1963     3.00
03/1963     2.98
04/1963     2.90
05/1963     3.00
06/1963     2.99
07/1963     3.02
08/1963     3.49
09/1963     3.48
10/1963     3.50
11/1963     3.48
12/1963     3.38
01/1964     3.48
02/1964     3.48
03/1964     3.43
04/1964     3.47
05/1964     3.50
06/1964     3.50
07/1964     3.42
08/1964     3.50
09/1964     3.45
10/1964     3.36
11/1964     3.52
12/1964     3.85
01/1965     3.90
02/1965     3.98
03/1965     4.04
04/1965     4.09
05/1965     4.10
06/1965     4.04
07/1965     4.09
08/1965     4.12
09/1965     4.01
10/1965     4.08
11/1965     4.10
12/1965     4.32
01/1966     4.42
02/1966     4.60
03/1966     4.65
04/1966     4.67
05/1966     4.90
06/1966     5.17
07/1966     5.30
08/1966     5.53
09/1966     5.40
10/1966     5.53
11/1966     5.76
12/1966     5.40
01/1967     4.94
02/1967     5.00
03/1967     4.53
04/1967     4.05
05/1967     3.94
06/1967     3.98
07/1967     3.79
08/1967     3.90
09/1967     3.99
10/1967     3.88
11/1967     4.13
12/1967     4.51
01/1968     4.60
02/1968     4.71
03/1968     5.05
04/1968     5.76
05/1968     6.11
06/1968     6.07
07/1968     6.02
08/1968     6.03
09/1968     5.78
10/1968     5.91
11/1968     5.82
12/1968     6.02
01/1969     6.30
02/1969     6.61
03/1969     6.79
04/1969     7.41
05/1969     8.67
06/1969     8.90
07/1969     8.61
08/1969     9.19
09/1969     9.15
10/1969     9.00
11/1969     8.85
12/1969     8.97
01/1970     8.98
02/1970     8.98
03/1970     7.76
04/1970     8.10
05/1970     7.94
06/1970     7.60
07/1970     7.21
08/1970     6.61
09/1970     6.29
10/1970     6.20
11/1970     5.60
12/1970     4.90
01/1971     4.14
02/1971     3.72
03/1971     3.71
04/1971     4.15
05/1971     4.63
06/1971     4.91
07/1971     5.31
08/1971     5.56
09/1971     5.55
10/1971     5.20
11/1971     4.91
12/1971     4.14
01/1972     3.50
02/1972     3.29
03/1972     3.83
04/1972     4.17
05/1972     4.27
06/1972     4.46
07/1972     4.55
08/1972     4.80
09/1972     4.87
10/1972     5.04
11/1972     5.06
12/1972     5.33
01/1973     5.94
02/1973     6.58
03/1973     7.09
04/1973     7.12
05/1973     7.84
06/1973     8.49
07/1973    10.40
08/1973    10.50
09/1973    10.78
10/1973    10.01
11/1973    10.03
12/1973     9.95
01/1974     9.65
02/1974     8.97
03/1974     9.35
04/1974    10.51
05/1974    11.31
06/1974    11.93
07/1974    12.92
08/1974    12.01
09/1974    11.34
10/1974    10.06
11/1974     9.45
12/1974     8.53
01/1975     7.13
02/1975     6.24
03/1975     5.54
04/1975     5.49
05/1975     5.22
06/1975     5.55
07/1975     6.10
08/1975     6.14
09/1975     6.24
10/1975     5.82
11/1975     5.22
12/1975     5.20
01/1976     4.87
02/1976     4.77
03/1976     4.84
04/1976     4.82
05/1976     5.29
06/1976     5.48
07/1976     5.31
08/1976     5.29
09/1976     5.25
10/1976     5.02
11/1976     4.95
12/1976     4.65
01/1977     4.61
02/1977     4.68
03/1977     4.69
04/1977     4.73
05/1977     5.35
06/1977     5.39
07/1977     5.42
08/1977     5.90
09/1977     6.14
10/1977     6.47
11/1977     6.51
12/1977     6.56
01/1978     6.70
02/1978     6.78
03/1978     6.79
04/1978     6.89
05/1978     7.36
06/1978     7.60
07/1978     7.81
08/1978     8.04
09/1978     8.45
10/1978     8.96
11/1978     9.76
12/1978    10.03
01/1979    10.07
02/1979    10.06
03/1979    10.09
04/1979    10.01
05/1979    10.24
06/1979    10.29
07/1979    10.47
08/1979    10.94
09/1979    11.43
10/1979    13.77
11/1979    13.18
12/1979    13.78
01/1980    13.82
02/1980    14.13
03/1980    17.19
04/1980    17.61
05/1980    10.98
06/1980     9.47
07/1980     9.03
08/1980     9.61
09/1980    10.87
10/1980    12.81
11/1980    15.85
12/1980    18.90
01/1981    19.08
02/1981    15.93
03/1981    14.70
04/1981    15.72
05/1981    18.52
06/1981    19.10
07/1981    19.04
08/1981    17.82
09/1981    15.87
10/1981    15.08
11/1981    13.31
12/1981    12.37
01/1982    13.22
02/1982    14.78
03/1982    14.68
04/1982    14.94
05/1982    14.45
06/1982    14.15
07/1982    12.59
08/1982    10.12
09/1982    10.31
10/1982     9.71
11/1982     9.20
12/1982     8.95
01/1983     8.68
02/1983     8.51
03/1983     8.77
04/1983     8.80
05/1983     8.63
06/1983     8.98
07/1983     9.37
08/1983     9.56
09/1983     9.45
10/1983     9.48
11/1983     9.34
12/1983     9.47
01/1984     9.56
02/1984     9.59
03/1984     9.91
04/1984    10.29
05/1984    10.32
06/1984    11.06
07/1984    11.23
08/1984    11.64
09/1984    11.30
10/1984     9.99
11/1984     9.43
12/1984     8.38
01/1985     8.35
02/1985     8.50
03/1985     8.58
04/1985     8.27
05/1985     7.97
06/1985     7.53
07/1985     7.88
08/1985     7.90
09/1985     7.92
10/1985     7.99
11/1985     8.05
12/1985     8.27
01/1986     8.14
02/1986     7.86
03/1986     7.48
04/1986     6.99
05/1986     6.85
06/1986     6.92
07/1986     6.56
08/1986     6.17
09/1986     5.89
10/1986     5.85
11/1986     6.04
12/1986     6.91
01/1987     6.43
02/1987     6.10
03/1987     6.13
04/1987     6.37
05/1987     6.85
06/1987     6.73
07/1987     6.58
08/1987     6.73
09/1987     7.22
10/1987     7.29
11/1987     6.69
12/1987     6.77
01/1988     6.83
02/1988     6.58
03/1988     6.58
04/1988     6.87
05/1988     7.09
06/1988     7.51
07/1988     7.75
08/1988     8.01
09/1988     8.19
10/1988     8.30
11/1988     8.35
12/1988     8.76
01/1989     9.12
02/1989     9.36
03/1989     9.85
04/1989     9.84
05/1989     9.81
06/1989     9.53
07/1989     9.24
08/1989     8.99
09/1989     9.02
10/1989     8.84
11/1989     8.55
12/1989     8.45
01/1990     8.23
02/1990     8.24
03/1990     8.28
04/1990     8.26
05/1990     8.18
06/1990     8.29
07/1990     8.15
08/1990     8.13
09/1990     8.20
10/1990     8.11
11/1990     7.81
12/1990     7.31
01/1991     6.91
02/1991     6.25
03/1991     6.12
04/1991     5.91
05/1991     5.78
06/1991     5.90
07/1991     5.82
08/1991     5.66
09/1991     5.45
10/1991     5.21
11/1991     4.81
12/1991     4.43
01/1992     4.03
02/1992     4.06
03/1992     3.98
04/1992     3.73
05/1992     3.82
06/1992     3.76
07/1992     3.25
08/1992     3.30
09/1992     3.22
10/1992     3.10
11/1992     3.09
12/1992     2.92
01/1993     3.02
02/1993     3.03
03/1993     3.07
04/1993     2.96
05/1993     3.00
06/1993     3.04
07/1993     3.06
08/1993     3.03
09/1993     3.09
10/1993     2.99
11/1993     3.02
12/1993     2.96
01/1994     3.05
02/1994     3.25
03/1994     3.34
04/1994     3.56
05/1994     4.01
06/1994     4.25
07/1994     4.26
08/1994     4.47
09/1994     4.73
10/1994     4.76
11/1994     5.29
12/1994     5.45
01/1995     5.53
02/1995     5.92
03/1995     5.98
04/1995     6.05
05/1995     6.01
06/1995     6.00
07/1995     5.85
08/1995     5.74
09/1995     5.80
10/1995     5.76
11/1995     5.80
12/1995     5.60
01/1996     5.56
02/1996     5.22
03/1996     5.31
04/1996     5.22
05/1996     5.24
06/1996     5.27
07/1996     5.40
08/1996     5.22
09/1996     5.30
10/1996     5.24
11/1996     5.31
12/1996     5.29
01/1997     5.25
02/1997     5.19
03/1997     5.39
04/1997     5.51
05/1997     5.50
06/1997     5.56
07/1997     5.52
08/1997     5.54
09/1997     5.54
10/1997     5.50
11/1997     5.52
12/1997     5.50
01/1998     5.56
02/1998     5.51
03/1998     5.49
04/1998     5.45
05/1998     5.49
06/1998     5.56
07/1998     5.54
08/1998     5.55
09/1998     5.51
10/1998     5.07
11/1998     4.83
12/1998     4.68
01/1999     4.63
02/1999     4.76
03/1999     4.81
04/1999     4.74
05/1999     4.74
06/1999     4.76
07/1999     4.99
08/1999     5.07
09/1999     5.22
10/1999     5.20
11/1999     5.42
12/1999     5.30
01/2000     5.45
02/2000     5.73
03/2000     5.85
04/2000     6.02
05/2000     6.27
06/2000     6.53
07/2000     6.54
08/2000     6.50
09/2000     6.52
10/2000     6.51
11/2000     6.51
12/2000     6.40
01/2001     5.98
02/2001     5.49
03/2001     5.31
04/2001     4.80
05/2001     4.21
06/2001     3.97
07/2001     3.77
08/2001     3.65
09/2001     3.07
10/2001     2.49
11/2001     2.09
12/2001     1.82
01/2002     1.73
02/2002     1.74
03/2002     1.73
04/2002     1.75
05/2002     1.75
06/2002     1.75
07/2002     1.73
08/2002     1.74
09/2002     1.75
10/2002     1.75
11/2002     1.34
12/2002     1.24
01/2003     1.24
02/2003     1.26
03/2003     1.25
04/2003     1.26
05/2003     1.26
06/2003     1.22
07/2003     1.01
08/2003     1.03
09/2003     1.01
10/2003     1.01
11/2003     1.00
12/2003     0.98
01/2004     1.00
02/2004     1.01
03/2004     1.00
04/2004     1.00
05/2004     1.00
06/2004     1.03
07/2004     1.26
08/2004     1.43
09/2004     1.61
10/2004     1.76
11/2004     1.93
12/2004     2.16
01/2005     2.28
02/2005     2.50
03/2005     2.63
04/2005     2.79