But it did manage to work the Fed funds rate down to 1% and final sales surged.
但是，美联储确实努力使联邦基金利率降至1%，并增加了最终销售。
The interest rate is the discount rate, currently 0.25% above the Fed funds rate.
利息率和再贴现率一样，目前是比联邦基金率高0.25%。
Since January 2004 the US Federal Reserve has raised its fed funds rate six times.
自2004年1月，美国联邦储备局已加息六次。
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.
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%。
With the fed funds rate now targeted at 1%, and on most days trading below that, the target rate is already near the zero-bound.
由于联邦基金利率目前已降至1%，并在大多数时间里低于这一水平，目标利率已经逼近了零位。
So to keep the fed funds rate up, it has, since November 6th, been paying interest on excess reserves at the full target rate of 1%.
因此为了保持较高的联邦基金利率，美联储自11月6日来一直以1%的名义利率来支付剩余存款准备金的利息。
That’s not just what I say, by the way: the FT reports that the Fed’s own economists estimate the desired Fed funds rate at -5 percent。
顺便说一句，这不只是我说：金融时报也报道说，美联储的经济学家们估计，自己所期望的联邦基金利率是-5%。
If we apply the Rudebusch version of the Taylor rule to the mean Fed forecasts, I get the following for what the Fed funds rate should be.
如果我们根据美联储的预测数据，应用鲁迪·布什版本的泰勒公式来计算未来的利率，我们能够得到如下的结果。
The interest rate has dropped over the last 30 years because the Fed has constantly dropped the short term Fed funds rate and we are now at 0%.
利率下降，在过去30年来，因为美联储不断下降的短期联邦基金利率，我们现在在0%。
A 25bp cut in the Fed Funds rate, possibly with a steeper cut to the higher discount rate, at which it lends to Banks, looks the most likely prescription.
看起来，美联储最可能开具的药方是：联邦基金利率降低25个基点，并可能更大幅度降低其贷款给各银行所依据的较高的贴现率。
With inflation that ingrained, the U.S. central bank finally pulled out the big guns, raising the benchmark Fed funds rate to 13.77% in October 1979 from 11.43% in September.
随着通胀愈发凶猛，美国央行最终把鸟枪换成大炮，在1979年10月将银行利率从9月份的11.43%提高到13.77%。
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.
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。
Financial markets are now expecting a 0.5 percent reduction in the short-term fed funds rate when the Federal Reserve policy-making committee concludes a two-day meeting on January 30th.
当美联储政策制定委员会为期2天的会议在1月30日结束时，金融市场预计在短期内美联储资金利率会下降0.5%。
The Fed also made clear on Tuesday that it intends to keep the funds rate at extremely low levels.
美联储还明确星期二，它打算保持基金利率维持在极低水平。
Tomorrow, when the Open Market Committee meets, everyone expects them to reduce the Fed funds by another full point, with a corresponding further cut in the discount rate.
明天公开市场委员会开会时，每个人都希望他们进一步降低再贴现率，大幅削减美联储基金。
Because the federal funds rate is already close to zero, the fed has been buying up bonds with a longer maturity to drive down long-term interest rates.
由于联邦资金利率已经接近于零，因此联储开始买入较长期债券，以降低长期资金利率。
Traders in future markets anticipate the fed will hike its benchmark federal funds rate — which it has been holding near zero since December 2008 — to 0.5% by November.
期货市场的交易员们预计，今年11月前美联储将把其基准的联邦基金利率上调50个基点至0.5%，该利率自2008年12月以来一直处于接近于零的水平。
But even as a recovery materializes and fed policy begins to normalize (38 of the 54 respondents expect the key federal-funds rate to increase by the end of the year), long-term problems will persist.
但尽管美国正在实现经济复苏，且美联储的政策也开始正常化(54名参与者中有38人预计今年年底前关键联邦基金利率将上调)，长期问题将继续存在。
Comparing that to past recessions is a bit tricky, because the fed did not always use the federal funds rate as a target, and it tended to be more volatile.
和过去的衰退进行比较有些复杂，因为美联储并不总是采用联邦基金利率作为目标，且容易出现更大的波动。
The timing of an increase in the benchmark federal-funds rate -- a Fed-influenced rate at which banks lend to each other overnight -- is a centerpiece of Fed discussions.
美国的基准利率是联邦基金利率，这是一种银行间隔夜拆借利率，由美联储对它实施影响。 何时提高这一利率，是美联储讨论的焦点。
The most obvious way for the Fed to help is to lower the federal funds rate target, which sets the cost of borrowing, from its level of 2%.
美联储救市最明显的方式是降低联邦基金的利率（该利率决定了借款成本），从2%的水平上。
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.
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。
Still, the fed seems to have contributed to the booming demand for housing and other assets by keeping the federal funds rate artificially low during the boom years of 2003-05.
然而，美联储由于在2003至2005年的快速繁荣时期保持了较低的联邦基金利率，这看上去像是导致人们对住房和其它资产需求暴增的原因。
Still, the fed seems to have contributed to the booming demand for housing and other assets by keeping the federal funds rate artificially low during the boom years of 2003-05.
然而，美联储由于在2003至2005年的快速繁荣时期保持了较低的联邦基金利率，这看上去像是导致人们对住房和其它资产需求暴增的原因。
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