本周，联储突增的现金使得联邦基金利率从雷曼破产后的6%高点，下降到了1%。
The Fed’s torrent of cash pushed the fed funds rate down to 1% this week, from a high of 6% in the wake of Lehman’s failure.
原因在于联储将会做出激进的反应，但他所谓的激进反应只不过是联邦基金利率会下调1个百分点。
The reason was that the fed would respond "aggressively", by which he meant a cut in the federal funds rate of just one percentage point.
当俄国破产，并使对冲基金，长期资金管理公司倒闭时，联储会仅降息0.25%。
After Russia's default and the collapse of Long-Term Capital Management, a hedge fund, the Fed cut rates by a quarter point.
这可以无限制扩大它的资产负债表，而不会使联邦基金利率降到0。银行如果可以从联储那里得到1.75%的利息，就不会以0.25%的利率贷出多余的款项。
It could then expand its balance-sheet indefinitely without driving the fed funds rate to zero; a bank will not lend out excess reserves at 0.25% if it can earn 1.75% at the Fed.
但是十年前，联储帮助组织了对“长期资本管理”的援救，这是一个对冲基金，没有公众资金的介入。
But ten years ago the Fed helped organise the rescue of Long-Term Capital Management, a hedge fund (although no public money was involved).
在联储的例会上，联邦公开市场委员会将联邦基金利率进一步下调0.75个百分点，调整后为2.25%。
At its regular meeting, the federal Open Market Committee reduced the federal funds rate by a further three-quarters of a percentage point, to 2.25%.
同时基金组织还指出了去年10月由联储公布采取同一些大的新兴经济体之间达成的预防性互换协议的迫切。
It also points to the eagerness with which the Federal Reserve's precautionary swap lines with some big emerging economies, unveiled in October last year, were taken up.
纽约联储周三公布的数据推动实际联邦基金利率降至更低的0.23%。
Data Wednesday from the New York fed put the effective fed-funds rate at a much lower 0.23%.
纽约联储周三公布的数据推动实际联邦基金利率降至更低的0.23%。
Data Wednesday from the New York fed put the effective fed-funds rate at a much lower 0.23%.
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