federal funds rate

Savers suffering as rates fall--what to do

Interest rates for ordinary savers held up pretty well after the first Fed rate cut in July last year.  There was a simple reason--banks needed the money.  With the cr

Federal Reserve cuts the discount rate

In response to the recent credit squeeze, the Federal Reserve did something unusual: they cut the discount rate without cutting the federal funds rate. The federal funds rate is the rate at [more]