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Fed’s Policy Rate Fell Below New Target Range on Final Day of 2015
The Wall Street Journal (online registration required): The Federal Reserve’s policy rate fell below its target range on the last day of 2015, data released Monday by the central bank show, a development that many traders anticipated but nonetheless renewed concerns about market forces threatening the Fed’s ability to control short-term interest rates.
The daily benchmark, called the effective federal-funds rate, dipped to 0.20% on Dec. 31, below the Fed’s newly set 0.25%-0.5% range for...
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