Notes on the Money Market and LM Curve – Eco 3202 – Fall ...

This relationship can be seen in the Chart 1, which plots both the interest rates and the difference between the two rates. The effective fed funds rate (in black) and the discount rate (in yellow before 2003 and red after 2002) compare the level of interest rates—note that since the January 2003 change in discount window policy the discount ... ................
................