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 U$.$S$.$ Treasury sets the repo rate.