Eartha
Member
- Joined
- Oct 8, 2009
- Member Type
- Student or Learner
- Native Language
- Chinese
- Home Country
- China
- Current Location
- China
Dear all,
How should I understand the underlined?
Is it 0.25 percent or anything else?
Thanks in advance.
The Fed can also lower the federal funds rate (the rate banks charge each other for short-term loans), which means that they can then charge lower interest rates on loans they make to their customers. In the recession that began in late 2007, for example, the Fed cut the federal funds rate nine times in 15 months. It dropped from 4.75 percent to between .25 percent and zero, the lowest in its history.
How should I understand the underlined?
Is it 0.25 percent or anything else?
Thanks in advance.
The Fed can also lower the federal funds rate (the rate banks charge each other for short-term loans), which means that they can then charge lower interest rates on loans they make to their customers. In the recession that began in late 2007, for example, the Fed cut the federal funds rate nine times in 15 months. It dropped from 4.75 percent to between .25 percent and zero, the lowest in its history.