Why does the Federal Reserve rarely use the discount rate to implement its monetary policy?

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Why does the Federal Reserve rarely use the discount rate to implement its monetary policy?

Discount Rate
Depending upon the context, the discount rate has two different definitions and usages. First, the discount rate refers to the interest rate charged to the commercial banks and other financial institutions for the loans they take from the Federal...
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Financial Markets and Institutions

ISBN: 978-0077861667

6th edition

Authors: Anthony Saunders, Marcia Cornett

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