| Month/Year | Money Market Mutual Fund Net Average Yield | Federal Funds Rate |
|---|---|---|
| Jan-92 | 4.19 | 4.03 |
| Feb-92 | 3.86 | 4.06 |
| Mar-92 | 3.77 | 3.98 |
| Apr-92 | 3.68 | 3.73 |
| May-92 | 3.55 | 3.82 |
| Jun-92 | 3.48 | 3.76 |
| Jul-92 | 3.27 | 3.25 |
| Aug-92 | 3.09 | 3.3 |
| Sep-92 | 2.95 | 3.22 |
| Oct-92 | 2.82 | 3.1 |
| Nov-92 | 2.79 | 3.09 |
| Dec-92 | 2.87 | 2.92 |
| Jan-93 | 2.80 | 3.02 |
| Feb-93 | 2.72 | 3.03 |
| Mar-93 | 2.67 | 3.07 |
| Apr-93 | 2.64 | 2.96 |
| May-93 | 2.60 | 3.00 |
| Jun-93 | 2.63 | 3.04 |
| Jul-93 | 2.64 | 3.06 |
| Aug-93 | 2.65 | 3.03 |
| Sep-93 | 2.66 | 3.09 |
| Oct-93 | 2.65 | 2.99 |
| Nov-93 | 2.68 | 3.02 |
| Dec-93 | 2.71 | 2.96 |
| Jan-94 | 2.70 | 3.05 |
| Feb-94 | 2.76 | 3.25 |
| Mar-94 | 2.87 | 3.34 |
| Apr-94 | 3.06 | 3.56 |
| May-94 | 3.37 | 4.01 |
| Jun-94 | 3.62 | 4.25 |
| Jul-94 | 3.78 | 4.26 |
| Aug-94 | 3.96 | 4.47 |
| Sep-94 | 4.17 | 4.73 |
| Oct-94 | 4.33 | 4.76 |
| Nov-94 | 4.64 | 5.29 |
| Dec-94 | 5.04 | 5.45 |
| Jan-95 | 5.19 | 5.53 |
| Feb-95 | 5.45 | 5.92 |
| Mar-95 | 5.52 | 5.98 |
| Apr-95 | 5.54 | 6.05 |
| May-95 | 5.52 | 6.01 |
| Jun-95 | 5.49 | 6.00 |
| Jul-95 | 5.37 | 5.85 |
| Aug-95 | 5.27 | 5.74 |
| Sep-95 | 5.25 | 5.80 |
| Oct-95 | 5.22 | 5.76 |
| Nov-95 | 5.23 | 5.80 |
| Dec-95 | 5.19 | 5.60 |
| Jan-96 | 5.05 | 5.56 |
| Feb-96 | 4.83 | 5.22 |
| Mar-96 | 4.76 | 5.31 |
| Apr-96 | 4.75 | 5.22 |
| May-96 | 4.74 | 5.24 |
| Jun-96 | 4.77 | 5.27 |
| Jul-96 | 4.81 | 5.40 |
| Aug-96 | 4.82 | 5.22 |
| Sep-96 | 4.83 | 5.30 |
| Oct-96 | 4.82 | 5.24 |
| Nov-96 | 4.84 | 5.31 |
| Dec-96 | 4.85 | 5.29 |
| Jan-97 | 4.84 | 5.25 |
| Feb-97 | 4.82 | 5.19 |
| Mar-97 | 4.84 | 5.39 |
| Apr-97 | 4.94 | 5.51 |
| May-97 | 4.98 | 5.50 |
| Jun-97 | 5.02 | 5.56 |
| Jul-97 | 5.02 | 5.52 |
| Aug-97 | 5.04 | 5.54 |
| Sep-97 | 5.02 | 5.54 |
| Oct-97 | 5.01 | 5.50 |
| Nov-97 | 5.05 | 5.52 |
| Dec-97 | 5.12 | 5.50 |
| Jan-98 | 5.10 | 5.56 |
| Feb-98 | 5.04 | 5.51 |
| Mar-98 | 5.03 | 5.49 |
| Apr-98 | 5.02 | 5.45 |
| May-98 | 5.00 | 5.49 |
| Jun-98 | 5.01 | 5.56 |
| Jul-98 | 5.01 | 5.54 |
| Aug-98 | 5.01 | 5.55 |
| Sep-98 | 4.98 | 5.51 |
| Oct-98 | 4.73 | 5.07 |
| Nov-98 | 4.61 | 4.83 |
| Dec-98 | 4.54 | 4.68 |
| Jan-99 | 4.46 | 4.63 |
| Feb-99 | 4.36 | 4.76 |
| Mar-99 | 4.35 | 4.81 |
| Apr-99 | 4.32 | 4.74 |
| May-99 | 4.29 | 4.74 |
| Jun-99 | 4.31 | 4.76 |
| Jul-99 | 4.45 | 4.99 |
| Aug-99 | 4.55 | 5.07 |
| Sep-99 | 4.69 | 5.22 |
| Oct-99 | 4.77 | 5.20 |
| Nov-99 | 4.92 | 5.42 |
| Dec-99 | 5.06 | 5.30 |
| Jan-00 | 5.11 | 5.45 |
| Feb-00 | 5.22 | 5.73 |
| Mar-00 | 5.32 | 5.85 |
| Apr-00 | 5.46 | 6.02 |
| May-00 | 5.62 | 6.27 |
| Jun-00 | 5.87 | 6.53 |
| Jul-00 | 5.96 | 6.54 |
| Aug-00 | 5.99 | 6.50 |
| Sep-00 | 6.00 | 6.52 |
| Oct-00 | 5.99 | 6.51 |
| Nov-00 | 6.01 | 6.51 |
| Dec-00 | 5.98 | 6.40 |
| Jan-01 | 5.67 | 5.98 |
| Feb-01 | 5.20 | 5.49 |
| Mar-01 | 4.87 | 5.31 |
| Apr-01 | 4.47 | 4.80 |
| May-01 | 3.95 | 4.21 |
| Jun-01 | 3.63 | 3.97 |
| Jul-01 | 3.38 | 3.77 |
| Aug-01 | 3.21 | 3.65 |
| Sep-01 | 2.88 | 3.07 |
| Oct-01 | 2.34 | 2.49 |
| Nov-01 | 1.95 | 2.09 |
| Dec-01 | 1.66 | 1.82 |
| Jan-02 | 1.49 | 1.73 |
| Feb-02 | 1.41 | 1.74 |
| Mar-02 | 1.37 | 1.73 |
| Apr-02 | 1.37 | 1.75 |
| May-02 | 1.33 | 1.75 |
| Jun-02 | 1.32 | 1.75 |
| Jul-02 | 1.29 | 1.73 |
| Aug-02 | 1.26 | 1.74 |
| Sep-02 | 1.24 | 1.75 |
| Oct-02 | 1.22 | 1.75 |
| Nov-02 | 1.03 | 1.34 |
| Dec-02 | 0.90 | 1.24 |
| Jan-03 | 0.83 | 1.24 |
| Feb-03 | 0.78 | 1.26 |
| Mar-03 | 0.75 | 1.25 |
| Apr-03 | 0.72 | 1.26 |
| May-03 | 0.70 | 1.26 |
| Jun-03 | 0.65 | 1.22 |
| Jul-03 | 0.54 | 1.01 |
| Aug-03 | 0.52 | 1.03 |
| Sep-03 | 0.52 | 1.01 |
| Oct-03 | 0.52 | 1.01 |
| Nov-03 | 0.53 | 1.00 |
| Dec-03 | 0.53 | 0.98 |
| Jan-04 | 0.52 | 1.00 |
| Feb-04 | 0.52 | 1.01 |
| Mar-04 | 0.51 | 1.00 |
Data points are monthly averages through March 2004. Money market mutual fund average net yield is for taxable funds. The monthly net average yield for taxable money market mutual funds was 0.51% for March 2004. Source: iMoneyNet, Inc. and Federal Reserve/Haver Analytics |
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