Which of the following statements is NOT true?

Name: Which of the following statements is NOT true?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The discount rate is the interest rate the Federal Reserve charges commercial banks for short-term loans. A higher discount rate makes borrowing more expensive for banks, which can lead to higher interest rates for consumers, not lower. This is because banks often pass on the higher costs of borrowing from the Federal Reserve to consumers in the form of higher interest rates on loans and mortgages.

Which of the Following Statements Is NOT True