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Source: Federal Reserve / BEA (FRED) · FEDFUNDS, PCEPILFEData through May 2026 · Updated Jul 14, 2026 All rates →
How Restrictive Is the Fed, Really?
The real (inflation-adjusted) federal funds rate — nominal fed funds minus core PCE inflation. It reveals whether policy is actually restrictive or stimulative, which the headline rate hides.
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<iframe src="https://chixan.com/embed/rates/us_real_policy_rate/" width="640" height="440" style="border:0" loading="lazy" title="How Restrictive Is the Fed, Really? — Chixan"></iframe>Cite this chart
Chixan (2026). How Restrictive Is the Fed, Really?. Federal Reserve / BEA (FRED). https://chixan.com/charts/rates/us_real_policy_rate/
