SOFR Falls to 3.66% on July 1; Fed Funds Rate Holds at 3.63%

According to Federal Reserve data from the New York Fed, the secured overnight financing rate (SOFR) fell to 3.66% on July 1, down from 3.68% the previous trading day.

The effective federal funds rate remained unchanged at 3.63% on the same day, holding steady from the prior day.

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