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.

The rate is set at meetings of the Federal Open Market Committee, (FOMC). Often referred to as the fed funds rate, or target rate, this is a key parameter used by the Federal Reserve to set monetary policy. The fed funds rate is also used to regulate the supply of money in the U.S. economy.

• 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

• 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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