The Federal Funds Rate During Inauguration Week
January 26, 2009
The Federal Reserve's Board of Governors announced a target rate for federal funds, the rate at which banks that have met their reserve requirements lend money overnight to banks that have not.
The announced target rate is value today: as low as 0%. This is the first time that the FED has announced a variable rate.
Here was the actual rate for the week of January 19.
