Carlos Samaniego

Field NoteFrom the archive

The Fed and You

Carlos Samaniego · January 30, 2008 · 1 min read

The Federal Reserve Lowers Interest Rates AGAIN… What Does This Mean For YOU?

In order to answer this question, it is helpful to understand the four major interest rates that are affected by the Fed:

Discount Rate (currently 3.5%) – the interest rate that banks pay when they borrow money directly from the Fed. The rate has been largely symbolic in the past because banks prefer to get short term financing by:

  • Issuing "commercial paper"

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