2008-10-07

Fed Funds effective rate are at... 0%

David Altig from the Federal Reserve of Atlanta publishes a very interesting post about “Why is the Fed Paying Interest on Excess Reserves?”
It is worth reading the post. I just paste here the chart of the Effective Fed Funds rate he publishes.
Bernanke is soon going to pay people to borrow! One step closer to the demise of the USD.

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