At close of business on 27 January 2021, will the upper limit of the Federal Reserve's target range for the federal funds rate be lower, the same, or higher than it was at close of business on 16 December 2020?
The U.S. federal funds rate is the interest rate charged for overnight lending among financial institutions with accounts at the Federal Reserve and sets the base rate for borrowing costs across the financial system (Federal Reserve). The target range for the federal funds rate is set by the Federal Open Market Committee (FOMC). Its January meeting is scheduled for 26-27 January 2021.
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