自从08年十月二十九日，联邦公开市场操作委员会降息0.5%后，联邦资金利率目标现在也只剩1%，但是这些资金实际上还要换手(在银行间相互借贷市场中流动)-有效利率大约只剩下0.25%。

Since Oct.29th, the target for the federal funds rate has been a 1%, but the rate at which funds actually change hands, known as the “effective rate”, has averaged around 0.25%(see chart).

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