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June 17, 2015 Comments (0) Views: 998 Economy

US Fed Funds Rate Hit Highest in over 2 years

The U.S. federal funds rate , which banks charge each other to borrow excess reserves, averaged 0.14 percent on Tuesday, the highest level since May 2013, U.S. Federal Reserve data released Wednesday showed.

The average fed funds rate averaged 0.13 percent on Monday for nine straight days.

The fed funds rate, which the Fed targets to achieve its rate objective, traded in a range of 0.07 percent to 0.32 percent, compared with Monday’s 0.07 to 0.3125 percent.


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