No Maxine, the Federal Funds Rate is not what the bank in Monopoly loans you.
Did you know Ben Bernanke, in addition to chairing the Federal Reserve and trying to save our financial sector, teaches Intro to Economics at House Committee on Financial Services meetings? You didn’t? Well that’s because its more of a one-on-one tutoring session between he and Calif. Congresswoman Maxine Waters.
Apparently Congresswoman Waters fell asleep during the part of her Econ 101 class where the difference between the federal funds rate and discount rate. What better time to clear that up than a televised meeting between government officials?
