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To: GraceZ who wrote (81694)	3/16/2001 3:57:24 PM
From: Ilaine	Respond to of 436258

NBERS web site probably has it in one of those funky files you can only read using statistical software. They've got an amazing amount of stuff. They charge $5 to download an article but data is free. Regardless, it was always published in the NY Times, probably the Wall Street Journal, so it's findable.

To: GraceZ who wrote (81694)	3/16/2001 7:30:43 PM
From: Ilaine	Respond to of 436258

OK, the reason we couldn't find the Fed Funds rate before 1954 is that it wasn't collected until then. The Federal Funds rate is the rate banks charge each other to swap reserves interbank. The discount rate is the rate that the federal reserve charges banks to loan reserves to them. This is the rate that's printed in the newspaper. The discount rate is lower but the Fed doesn't allow banks to borrow money at the discount rate for profit. The Federal Funds rate is an approximation, anyway, it's in constant flux usually within a percentage point more or less of the target rate.