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That action pushed the federal funds rate to 6percentt.
The federal funds rate, meanwhile, stands at 1percentt.
The target Fed funds rate is now 2.25%.
We can do more than adjust the federal funds rate.
He wanted to lower the federal funds rate by half a percentage point, not a quarter.
How is it possible for the Fed funds rate to be higher than the Treasury rates?
The federal funds rate, for interest on overnight loans between banks, is now 1.25percentt.
The target for the federal funds rate is currently 3.75percentt.
On Wednesday he said that "the federal funds rate must rise at some point".
The effective funds rate had climbed as high as 4percentt when markets opened.
Mr. Poole has publicly opposed a cut in the federal funds rate.
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CEO of Professional Science Editing for Scientists @ prosciediting.com