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Incorrect settlement
This question:
http://www.hubdub.com/e/Market/Will_t...
has been incorrectly settled.
The "discount" rate cut announced Sunday applies only to the short-term loans that financial institutions get directly from the Federal Reserve. It doesn't apply to individual borrowers. Therefore, it doesn't apply as a "rate cut". Please reopen/resettle
http://www.hubdub.com/e/Market/Will_t...
has been incorrectly settled.
The "discount" rate cut announced Sunday applies only to the short-term loans that financial institutions get directly from the Federal Reserve. It doesn't apply to individual borrowers. Therefore, it doesn't apply as a "rate cut". Please reopen/resettle
I’m . Been a bad week for settling/clarifying, huh?
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Inappropriate?The fed funds rate is different than the discount rate. It discount rate only applies to banks and is frequently set differently than the Fed Funds rate.
The question was about the Fed Funds rate not the discount rate.
This was a HUGE error.
1 person says
this solves the problem
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Inappropriate?The question has details that reference the "open market committee." The rate that was changed was NOT the open market rate it was a private rate for banks only.
I agree with rohan - this question was not settled correctly.
I’m not having much fun with HUBDUB
2 people say
this solves the problem
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Inappropriate?From the creator of the question. This should settle the matter..
28 robmar
Well isn't this tricky...
I just skimmed through the comments to get a quick idea what's going on here and can see why there's so much confusion. If you didn't know that the question was referencing the federal funds rate then you would've read the headlines yesterday, saw "rate cut" and assumed that this could be settled.
However, as scott has made so clear, questions on this subject are pretty much assumed to be about the federal funds rate. I created the question and that was my intent.
I guess for the future we might spell it out in detail, but I'd hate for every question to have to be so legalistic. -
Inappropriate?I've dropped a note to Andrew to review this. He should be on to it fairly soon.
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