N-CSR Item 12(b) - Exhibits: Certifications

                           SECTION 906 CERTIFICATION

Pursuant to 18 U.S.C.{section} 1350, the undersigned officers of FEDERATED
EQUITY FUNDS on behalf of FEDERATED CAPITAL APPRECIATION FUND, FEDERATED
KAUFMANN FUND, FEDERATED KAUFMANN SMALL CAP FUND, FEDERATED LARGE CAP GROWTH
FUND, FEDERATED MARKET OPPORTUNITY FUND, FEDERATED MID CAP GROWTH STRATEGIES
FUND, FEDERATED STRATEGIC VALUE FUND, FEDERATED TECHNOLOGY FUND (the
"Registrant"), hereby certify, to the best of our knowledge, that the
Registrant's Report on Form N-CSR for the period ended October 31, 2006 (the
"Report") fully complies with the requirements of Section 13(a) or 15(d), as
applicable, of the Securities and Exchange Act of 1934 and that the information
contained in the Report fairly presents, in all material respects, the financial
condition and results of operations of the Registrant.


Dated: December 15, 2006

/s/ J. Christopher Donahue
Name:  J. Christopher Donahue
Title: President, Principal Executive Officer



Dated: December 15, 2006

/s/ Richard A. Novak
Name:  Richard A. Novak
Title: Treasurer, Principal Financial Officer

This certification is being furnished solely pursuant to 18 U.S.C.{section} 1350
and is not being filed as part of the Report or as a separate disclosure
document.