Title: 6-Month Treasury Constant Maturity Minus Federal Funds Rate Series ID: T6MFFM 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: 1982-01-01 to 2024-03-01 Last Updated: 2024-03-29 4:04 PM CDT Notes: Series is calculated as the spread between 6-Month Treasury Constant Maturity (https://fred.stlouisfed.org/series/GS6M) and Effective Federal Funds Rate (https://fred.stlouisfed.org/series/FEDFUNDS). DATE VALUE 1982-01-01 0.68 1982-02-01 0.03 1982-03-01 -0.85 1982-04-01 -1.07 1982-05-01 -1.32 1982-06-01 -0.39 1982-07-01 0.21 1982-08-01 0.39 1982-09-01 -0.48 1982-10-01 -1.08 1982-11-01 -0.40 1982-12-01 -0.36 1983-01-01 -0.35 1983-02-01 0.14 1983-03-01 0.09 1983-04-01 -0.02 1983-05-01 0.07 1983-06-01 0.46 1983-07-01 0.48 1983-08-01 0.60 1983-09-01 0.28 1983-10-01 -0.09 1983-11-01 0.14 1983-12-01 0.29 1984-01-01 0.00 1984-02-01 0.18 1984-03-01 0.36 1984-04-01 0.18 1984-05-01 0.70 1984-06-01 0.18 1984-07-01 0.04 1984-08-01 -0.27 1984-09-01 -0.11 1984-10-01 0.53 1984-11-01 -0.09 1984-12-01 0.38 1985-01-01 0.10 1985-02-01 0.37 1985-03-01 0.87 1985-04-01 0.44 1985-05-01 0.10 1985-06-01 -0.07 1985-07-01 -0.31 1985-08-01 -0.19 1985-09-01 -0.28 1985-10-01 -0.28 1985-11-01 -0.37 1985-12-01 -0.77 1986-01-01 -0.61 1986-02-01 -0.39 1986-03-01 -0.59 1986-04-01 -0.63 1986-05-01 -0.38 1986-06-01 -0.36 1986-07-01 -0.44 1986-08-01 -0.38 1986-09-01 -0.32 1986-10-01 -0.37 1986-11-01 -0.40 1986-12-01 -1.13 1987-01-01 -0.76 1987-02-01 -0.27 1987-03-01 -0.27 1987-04-01 -0.18 1987-05-01 -0.50 1987-06-01 -0.45 1987-07-01 -0.53 1987-08-01 -0.27 1987-09-01 -0.23 1987-10-01 -0.25 1987-11-01 -0.19 1987-12-01 -0.09 1988-01-01 -0.27 1988-02-01 -0.37 1988-03-01 -0.40 1988-04-01 -0.37 1988-05-01 -0.20 1988-06-01 -0.47 1988-07-01 -0.40 1988-08-01 -0.22 1988-09-01 -0.37 1988-10-01 -0.40 1988-11-01 -0.05 1988-12-01 -0.06 1989-01-01 -0.27 1989-02-01 -0.31 1989-03-01 -0.46 1989-04-01 -0.67 1989-05-01 -0.90 1989-06-01 -1.15 1989-07-01 -1.23 1989-08-01 -0.82 1989-09-01 -0.86 1989-10-01 -0.81 1989-11-01 -0.66 1989-12-01 -0.64 1990-01-01 -0.27 1990-02-01 -0.12 1990-03-01 0.00 1990-04-01 0.01 1990-05-01 0.01 1990-06-01 -0.24 1990-07-01 -0.23 1990-08-01 -0.36 1990-09-01 -0.50 1990-10-01 -0.58 1990-11-01 -0.42 1990-12-01 -0.28 1991-01-01 -0.33 1991-02-01 -0.06 1991-03-01 0.08 1991-04-01 0.07 1991-05-01 0.09 1991-06-01 0.12 1991-07-01 0.15 1991-08-01 -0.03 1991-09-01 0.03 1991-10-01 0.05 1991-11-01 -0.01 1991-12-01 -0.17 1992-01-01 -0.02 1992-02-01 0.02 1992-03-01 0.35 1992-04-01 0.27 1992-05-01 0.06 1992-06-01 0.14 1992-07-01 0.13 1992-08-01 0.01 1992-09-01 -0.18 1992-10-01 0.03 1992-11-01 0.35 1992-12-01 0.55 1993-01-01 0.22 1993-02-01 0.13 1993-03-01 0.08 1993-04-01 0.10 1993-05-01 0.17 1993-06-01 0.25 1993-07-01 0.20 1993-08-01 0.21 1993-09-01 0.06 1993-10-01 0.23 1993-11-01 0.34 1993-12-01 0.38 1994-01-01 0.20 1994-02-01 0.28 1994-03-01 0.58 1994-04-01 0.69 1994-05-01 0.78 1994-06-01 0.47 1994-07-01 0.69 1994-08-01 0.61 1994-09-01 0.51 1994-10-01 0.86 1994-11-01 0.69 1994-12-01 1.05 1995-01-01 0.98 1995-02-01 0.39 1995-03-01 0.19 1995-04-01 0.00 1995-05-01 -0.08 1995-06-01 -0.34 1995-07-01 -0.23 1995-08-01 -0.09 1995-09-01 -0.26 1995-10-01 -0.20 1995-11-01 -0.29 1995-12-01 -0.25 1996-01-01 -0.43 1996-02-01 -0.25 1996-03-01 -0.15 1996-04-01 0.05 1996-05-01 0.09 1996-06-01 0.19 1996-07-01 0.12 1996-08-01 0.12 1996-09-01 0.15 1996-10-01 0.08 1996-11-01 -0.04 1996-12-01 -0.05 1997-01-01 0.06 1997-02-01 0.08 1997-03-01 0.09 1997-04-01 0.09 1997-05-01 0.03 1997-06-01 -0.22 1997-07-01 -0.19 1997-08-01 -0.14 1997-09-01 -0.24 1997-10-01 -0.20 1997-11-01 -0.14 1997-12-01 -0.05 1998-01-01 -0.33 1998-02-01 -0.24 1998-03-01 -0.24 1998-04-01 -0.19 1998-05-01 -0.13 1998-06-01 -0.24 1998-07-01 -0.31 1998-08-01 -0.40 1998-09-01 -0.70 1998-10-01 -0.87 1998-11-01 -0.24 1998-12-01 -0.11 1999-01-01 -0.14 1999-02-01 -0.15 1999-03-01 -0.16 1999-04-01 -0.20 1999-05-01 0.01 1999-06-01 0.27 1999-07-01 -0.24 1999-08-01 0.02 1999-09-01 -0.14 1999-10-01 0.00 1999-11-01 0.01 1999-12-01 0.38 2000-01-01 0.31 2000-02-01 0.27 2000-03-01 0.26 2000-04-01 0.05 2000-05-01 0.12 2000-06-01 -0.29 2000-07-01 -0.27 2000-08-01 -0.15 2000-09-01 -0.27 2000-10-01 -0.19 2000-11-01 -0.17 2000-12-01 -0.48 2001-01-01 -0.83 2001-02-01 -0.60 2001-03-01 -0.87 2001-04-01 -0.81 2001-05-01 -0.47 2001-06-01 -0.41 2001-07-01 -0.21 2001-08-01 -0.26 2001-09-01 -0.36 2001-10-01 -0.32 2001-11-01 -0.17 2001-12-01 0.00 2002-01-01 0.04 2002-02-01 0.12 2002-03-01 0.33 2002-04-01 0.23 2002-05-01 0.16 2002-06-01 0.08 2002-07-01 0.01 2002-08-01 -0.10 2002-09-01 -0.11 2002-10-01 -0.16 2002-11-01 -0.04 2002-12-01 0.03 2003-01-01 -0.02 2003-02-01 -0.06 2003-03-01 -0.09 2003-04-01 -0.09 2003-05-01 -0.15 2003-06-01 -0.28 2003-07-01 -0.04 2003-08-01 0.02 2003-09-01 0.02 2003-10-01 0.01 2003-11-01 0.04 2003-12-01 0.03 2004-01-01 -0.01 2004-02-01 0.00 2004-03-01 0.01 2004-04-01 0.11 2004-05-01 0.33 2004-06-01 0.61 2004-07-01 0.44 2004-08-01 0.33 2004-09-01 0.30 2004-10-01 0.29 2004-11-01 0.39 2004-12-01 0.34 2005-01-01 0.40 2005-02-01 0.35 2005-03-01 0.46 2005-04-01 0.35 2005-05-01 0.17 2005-06-01 0.18 2005-07-01 0.27 2005-08-01 0.28 2005-09-01 0.17 2005-10-01 0.35 2005-11-01 0.30 2005-12-01 0.17 2006-01-01 0.18 2006-02-01 0.20 2006-03-01 0.20 2006-04-01 0.11 2006-05-01 0.07 2006-06-01 0.18 2006-07-01 0.03 2006-08-01 -0.08 2006-09-01 -0.17 2006-10-01 -0.13 2006-11-01 -0.10 2006-12-01 -0.17 2007-01-01 -0.10 2007-02-01 -0.10 2007-03-01 -0.16 2007-04-01 -0.18 2007-05-01 -0.27 2007-06-01 -0.30 2007-07-01 -0.22 2007-08-01 -0.47 2007-09-01 -0.74 2007-10-01 -0.60 2007-11-01 -0.91 2007-12-01 -0.90 2008-01-01 -1.10 2008-02-01 -0.88 2008-03-01 -1.10 2008-04-01 -0.70 2008-05-01 -0.12 2008-06-01 0.19 2008-07-01 -0.03 2008-08-01 -0.03 2008-09-01 -0.17 2008-10-01 0.26 2008-11-01 0.35 2008-12-01 0.10 2009-01-01 0.15 2009-02-01 0.24 2009-03-01 0.25 2009-04-01 0.20 2009-05-01 0.12 2009-06-01 0.10 2009-07-01 0.12 2009-08-01 0.11 2009-09-01 0.06 2009-10-01 0.04 2009-11-01 0.03 2009-12-01 0.05 2010-01-01 0.04 2010-02-01 0.05 2010-03-01 0.07 2010-04-01 0.04 2010-05-01 0.02 2010-06-01 0.01 2010-07-01 0.02 2010-08-01 0.00 2010-09-01 0.00 2010-10-01 -0.01 2010-11-01 -0.01 2010-12-01 0.01 2011-01-01 0.01 2011-02-01 0.01 2011-03-01 0.02 2011-04-01 0.02 2011-05-01 0.00 2011-06-01 0.01 2011-07-01 0.01 2011-08-01 -0.04 2011-09-01 -0.04 2011-10-01 -0.02 2011-11-01 -0.03 2011-12-01 -0.02 2012-01-01 -0.01 2012-02-01 0.02 2012-03-01 0.01 2012-04-01 0.00 2012-05-01 -0.01 2012-06-01 -0.01 2012-07-01 -0.01 2012-08-01 0.01 2012-09-01 0.00 2012-10-01 -0.01 2012-11-01 -0.02 2012-12-01 -0.04 2013-01-01 -0.03 2013-02-01 -0.03 2013-03-01 -0.03 2013-04-01 -0.06 2013-05-01 -0.03 2013-06-01 0.00 2013-07-01 -0.02 2013-08-01 -0.01 2013-09-01 -0.04 2013-10-01 -0.01 2013-11-01 0.02 2013-12-01 0.01 2014-01-01 0.00 2014-02-01 0.01 2014-03-01 0.00 2014-04-01 -0.04 2014-05-01 -0.04 2014-06-01 -0.04 2014-07-01 -0.03 2014-08-01 -0.04 2014-09-01 -0.05 2014-10-01 -0.04 2014-11-01 -0.02 2014-12-01 -0.01 2015-01-01 -0.03 2015-02-01 -0.04 2015-03-01 0.00 2015-04-01 -0.03 2015-05-01 -0.04 2015-06-01 -0.04 2015-07-01 -0.01 2015-08-01 0.08 2015-09-01 0.04 2015-10-01 -0.01 2015-11-01 0.21 2015-12-01 0.26 2016-01-01 0.09 2016-02-01 0.07 2016-03-01 0.11 2016-04-01 0.00 2016-05-01 0.05 2016-06-01 0.02 2016-07-01 0.01 2016-08-01 0.05 2016-09-01 0.07 2016-10-01 0.08 2016-11-01 0.17 2016-12-01 0.10 2017-01-01 -0.03 2017-02-01 -0.01 2017-03-01 0.10 2017-04-01 0.05 2017-05-01 0.13 2017-06-01 0.07 2017-07-01 -0.02 2017-08-01 -0.03 2017-09-01 0.02 2017-10-01 0.10 2017-11-01 0.23 2017-12-01 0.20 2018-01-01 0.21 2018-02-01 0.37 2018-03-01 0.41 2018-04-01 0.29 2018-05-01 0.37 2018-06-01 0.29 2018-07-01 0.26 2018-08-01 0.33 2018-09-01 0.39 2018-10-01 0.27 2018-11-01 0.32 2018-12-01 0.27 2019-01-01 0.11 2019-02-01 0.10 2019-03-01 0.11 2019-04-01 0.04 2019-05-01 0.03 2019-06-01 -0.21 2019-07-01 -0.32 2019-08-01 -0.19 2019-09-01 -0.16 2019-10-01 -0.17 2019-11-01 0.04 2019-12-01 0.03 2020-01-01 0.01 2020-02-01 -0.07 2020-03-01 -0.33 2020-04-01 0.12 2020-05-01 0.10 2020-06-01 0.10 2020-07-01 0.05 2020-08-01 0.03 2020-09-01 0.03 2020-10-01 0.02 2020-11-01 0.01 2020-12-01 0.00 2021-01-01 0.00 2021-02-01 -0.02 2021-03-01 -0.02 2021-04-01 -0.03 2021-05-01 -0.02 2021-06-01 -0.03 2021-07-01 -0.05 2021-08-01 -0.03 2021-09-01 -0.03 2021-10-01 -0.02 2021-11-01 -0.01 2021-12-01 0.07 2022-01-01 0.25 2022-02-01 0.56 2022-03-01 0.66 2022-04-01 0.93 2022-05-01 0.73 2022-06-01 0.98 2022-07-01 1.22 2022-08-01 0.82 2022-09-01 1.13 2022-10-01 1.23 2022-11-01 0.86 2022-12-01 0.62 2023-01-01 0.47 2023-02-01 0.40 2023-03-01 0.34 2023-04-01 0.16 2023-05-01 0.22 2023-06-01 0.34 2023-07-01 0.41 2023-08-01 0.21 2023-09-01 0.18 2023-10-01 0.24 2023-11-01 0.11 2023-12-01 0.01 2024-01-01 -0.12 2024-02-01 -0.05 2024-03-01 0.03