Fed funds effective rate
Fed funds breached the target yesterday on short-term funding strains. The FOMC cut the Fed funds rate to 1.75-2.00% yesterday so that's the new target range. They also lowered IOER to help relieve pressure.
Fed funds breached the target yesterday on short-term funding strains. The FOMC cut the Fed funds rate to 1.75-2.00% yesterday so that's the new target range. They also lowered IOER to help relieve pressure.
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