What Is The Federal Funds Rate And How Does It Impact Loan Rates?
You’ve probably heard the term federal funds rate mentioned on the news or by a relative interested in the economy, but what does it mean? The federal funds rate is the interest rate banks charge each other for borrowing short-term money. The Federal Reserve sets the rate which affects inflation, economic growth, loan, and savings rates. Let’s dive deeper into how the rate is determined and its economic impact. Q1 2023 hedge fund letters, conferences and more Find A Qualified Financial AdvisorEach advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best int...