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- Rate as of July 18, 2008: 2.00%Bank Rate: Federal Funds Rate
- June 2007 rate: 5.25%
- Federal Reserve Chairman: Ben Bernanke
- The FOMC has eight regularly scheduled meetings a year
- The FOMC can also schedule additional meetings as required
- The FOMC has 12 members, including seven members of the Board of Governors of the Federal Reserve, president of the Federal Reserve Bank of New York and four of the other 11 Reserve Bank presidents
- 10-year low: 1.00% in 2003MoneyCafe.com: Fed Funds Target Rate
- 10-year high: 6.5% in 2000MoneyCafe.com: Fed Funds Target Rate
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The federal funds rate is the interest rate charged by depository institutions (i.e. banks) to lend balances at the Federal Reserve to other institutions overnight.
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Federal Funds Rate Questions
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Why are mortgage rates different than the Feds fund rate? 4 AnswersMortage rates are not directly related to the federal funds rate. Mortgage rates are affected by 10-year Treasury Bills, and the anticipated rate of inflation. ... read more -
ACORN is suing to get Federal funding restored. Is it unconstitutional to cut funding? 1 AnswerThe lawyers for ACORN have found a reasonable case for claiming that the Congressional bill cutting their funding was unconstitutional, although I do not think ... read more -
When a question has been voted "interesting" and additional funds are added, who gets the additional funds (beyond the original tip)? 3 AnswersHi @windowshopping Good Question. The team tipping feature is the feature you are talking about I believe. The added "interesting" votes and their corresponding... read more
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Federal Reserve Rate Cut News
- CNNMoney.com: Fed cuts rates again (October 29, 2008)
- The New York Times: Fed Cuts Rates by a Quarter Point, ... (April 30, 2008)
- Bloomberg.com: Fed Cuts Main Rate to 2.25%, Says Outlook (March 18, 2008)
- WSJ.com: Fed Cuts by Three-Quarter Point, Suggests More... (March 18, 2008)
- BostonHerald.com: Fed cuts rates by three-quarters of a point (March 18, 2008)
- The Dallas Morning News: Fed Cuts Rate, Aids in Buyout (March 17, 2008)
- Bloomberg.com: Fed Lowers Rate to 3% as U.S. Expansion Falters (January 30, 2008)
- ABC News: Fed Cuts Interest Rate - Again. Will Economy Be Saved? (January 30, 2008)
- Google News: Fed Funds Rate
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Federal Funds Rate Satire and Commentary
- USAToday.com: "When Interest Rates Hit 32%..." (March 9, 2007)
- CNNMoney.com: 4% Interest...Why Not Bank Online? (October 3, 2005)
- DeadBrain: Homeowners Shocked by Massive Interest Rate Increase (November 9, 2003)
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