The Federal Reserve has finally ended the seven-year long era of zero-interest rate policy, raising the target for the benchmark fed funds rate to between 0.25% and 0.5%.
The Fed Funds rate is important as it sets a baseline for many other interest rates for various types of loans.
The effective rate has not yet responded to today’s decision to raise the target rate, but will likely do so in the coming days as the Fed moves to implement that decision.
Here’s how that rate has looked over the last sixty years.
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