I've got the Federal Funds Rate--it's the shortest interest rate, an overnight rate--it was at 4% at that time and then there was a sharp drop.

这是联邦基金利率,是最短期的利率,当时的隔夜拆借利率是4%,接下来利率急速下跌

耶鲁公开课 - 金融市场课程节选

Look how--this is as of earlier this year; the Federal Funds Rate was at around 4% and it has this huge drop in the term structure and then it starts the upward-sloping.

这是今年早些时候的图形,当时联邦利率徘徊在4%,但期限结构,在此处急转直下之后又开始掉头向上

耶鲁公开课 - 金融市场课程节选