---
title: "Fed policy spread (EFFR vs IORB)"
method: GET
path: "/api/derived/policy-spread"
tags: ["Derived"]
---

# Fed policy spread (EFFR vs IORB)

`GET /api/derived/policy-spread`

## Request

- Base URL: `https://api.lastlookdata.com`
- URL: `https://api.lastlookdata.com/api/derived/policy-spread`
- Auth: none declared

Returns the spread between the Effective Federal Funds Rate (EFFR) and Interest on Reserve Balances (IORB), with plain-English interpretation. No parameters required.

## Response `200`

Policy spread

- PolicySpreadResponse
  - `service` string
  - `as_of` string, date
  - `effr` number
  - `iorb` number
  - `spread` number
  - `interpretation` string
  - `note` string

## Other responses

- `402`: Payment required via x402 protocol. Send USDC on Base (eip155:8453).

---

[API](https://skmtc.dev/lastlookdata/apis/lastlook-data-api.md) · [All operations](https://skmtc.dev/lastlookdata/apis/lastlook-data-api/llms.txt) · [OpenAPI document](https://skmtc.dev/lastlookdata/apis/lastlook-data-api/revisions/7e3a289cde3a?raw)