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Federal Funds Rate and the FOMC

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Could someone help with the following true/false questions and explain the answer? Your help is greatly appreciated:)

Q. The Federal Funds rate is the interest rate banks charge each other.

Q. The primary purpose of the FOMC is to enforce bank regulations.

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The solution discusses federal funds rate and the FOMC.

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The Federal Funds rate is the interest rate banks charge each other- T- This is the rate banks charge each other when they lend money to each other. The money they lend is received ...

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