rates
What is Fed funds rate?
The federal funds rate is the interest rate banks charge each other for overnight loans; the Federal Reserve sets a target range for it at its meetings. Rates on credit cards, savings accounts and many business loans tend to move with it within weeks.
Related terms
How it works
In WallStreetDigest editions
· Weekday edition
Homebuilder rally, chipmaker selloff, and the Fed's rate decision
Procter & Gamble rallied after its quarterly report, and bond funds felt the drop in yields.
· The Week in Review
Week in review: Dell selloff, hot consumer prices, and bond funds
Bank of America's settlement charge dented profit, while Fastenal ended the week higher.