At close of business on 21 September 2022, 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 27 July 2022?
The US 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 September meeting is scheduled for 20-21 September 2022.
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