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2. The federal funds rate is the interest rate banks charge each other to borrow reserves on a short-term basis. In other words, the federal

2. The federal funds rate is the interest rate banks charge each other to borrow reserves on a short-term basis. In other words, the federal funds rate is the interest rate banks charge each other for an overnight loan. But, we aren't banks! We are people that consume things and own businesses. How is a lower federal funds rate supposed to help us?

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