Go to the Federal Reserve Bank of St. Louis's FRED data website at www.fred.stlouisfed.org, and find the most recent data for the fed funds rate and the discount window rate using the following steps. Type "discount rate for United States," and "effective federal funds rate monthly" in the search window at the top of the page, one at a time. This will bring up graphs and data that can be downloaded.

Questions 1 Using this data, update Figure 22–1.

2 Calculate the percentage change in each rate since 2019, as reported in Figure 22–1. Which rate has increased or decreased more? Why?

AppendixLO1