The Fed lending rate to depository institutions was consistently lower than the bank prime lending rate during the 1980-2009 period.

Question

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This is true. The Fed lending rate (also known as the federal funds rate) is a short-term interest rate set by the Federal Reserve to influence other interest rates in the economy. The bank prime lending rate, on the other hand, is a variable rate that banks charge their most creditworthy customers. Typically, the bank prime lending rate is higher than the Fed lending rate, as banks need to earn a profit on their loans. This was the case during the 1980-2009 period, as the Fed generally kept the Fed lending rate lower than the bank prime lending rate to encourage lending and stimulate economic growth.

The Fed Lending Rate to Depository Institutions Was Consistently Lower