Short Answer Questions

Go to the Federal Reserve Board website and find the latest  information available on the prime rate, the three-month CD rate, the  discount rate, and the three-month T-bill rate using the following  steps. Go to  Under “Select Statistical Releases,” click on “Selected Interest  Rates.” Click on the most recent date. The data will be in this file on  your computer screen. Questions:

  1. What are the current levels for each of these interest    rates?
  2. Calculate the percentage change in each of these rates    since May 2013.
  3. What are the tools used by the Federal Reserve to    implement monetary policy?
  4. Explain how a decrease in the discount rate affects    credit availability and the money supply.
  5. Why does the Federal Reserve rarely use the discount    rate to implement its monetary policy?

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