=+are listed in the table in Problem 6. 8. In January 2001, the U.S. federal funds rate
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=+are listed in the table in Problem 6. 8. In January 2001, the U.S. federal funds rate was 6.5%, falling to 2% in November 2004. During the same period, the marginal lending rate at the European Central Bank fell from 5.75% to 3%.
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