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StackedThe Federal Reserve System and OpenMarket Operations_ Ask FREDThe accompanying graph depicts theeffective Federal Funds Rate from 2007to 2018.FRED-Effective Federal Funds Rate42200820102012201420162018Source: Board of Governors of the Federal Reserve System (US)a. What was the Federal Funds rate in June 2007?Enter your answer to two places after the decimal.

Question
Stacked
The Federal Reserve System and Open
Market Operations_ Ask FRED
The accompanying graph depicts the
effective Federal Funds Rate from 2007
to 2018.
FRED-Effective Federal Funds Rate
4
2
2008
2010
2012
2014
2016
2018
Source: Board of Governors of the Federal Reserve System (US)
a. What was the Federal Funds rate in June 2007?
Enter your answer to two places after the decimal.
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Stacked The Federal Reserve System and Open Market Operations_ Ask FRED The accompanying graph depicts the effective Federal Funds Rate from 2007 to 2018. FRED-Effective Federal Funds Rate 4 2 2008 2010 2012 2014 2016 2018 Source: Board of Governors of the Federal Reserve System (US) a. What was the Federal Funds rate in June 2007? Enter your answer to two places after the decimal.

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Step 1

The Fed Fund Rate: This is the rate at which country’s financial institution (banks and credit unions) lends the reserve to other financial institutions. When borrowing banks bargains over interest rate with lending banks then this rate (weighted average of rate) is termed as the federal funds effective rate.

Step 2

The federal fund rate in Ju...

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