rkatsamas1 rkatsamas1
  • 17-04-2020
  • Business
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What are interest rates and who sets them?

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ava1182
ava1182 ava1182
  • 17-04-2020

Answer:

Interest rates is the rate a bank or other lender charges to borrow it's money, or the rate a bank pays it's savers for keeping money in a account. The annual interest rate is the rate over a period of one year.

Explanation:

In the U.S, interest rates are determined by the Federal Open Market Committee (FOMC)

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