In January 2003, a new policy was implemented by the Fed that established a primary credit rate for its lending facility. Today, this rate is often referred to as the

Name: In January 2003, a new policy was implemented by the Fed that established a primary credit rate for its lending facility. Today, this rate is often referred to as the
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The primary credit rate established by the Fed is commonly referred to as the discount rate, not the federal funds rate, secondary rate, or tertiary rate.

In January 2003, a New Policy Was Implemented by the Fed