In the beginning of January of $2006,$ what was the repo rate in the United States?

$4\mathrm{.}50$

$2\mathrm{.}25$

$4\mathrm{.}00$

$4\mathrm{.}80$

Was this rate higher or lower compared to previous years?

higher

unchanged

lower

How is the repo rate determined?

The Federal Reserve sets the repo rate.

The IIS. Treasury sets the repo rate.