Question: The Board of Governors of the Federal Reserve System makes information about its various monetary policy tools available to the public at:
https://www.federalreserve.gov/monetarypolicy/policytools.htm
Visit the monetary policy tools website and answer the following.
a. Follow the "Open Market Operations link on the monetary policy tools page.
i. What is the current target range for the federal funds rate and when was the target set?
ii. For approximately how many years was the federal funds rate target range equal to 0.25-0.5%?
b. Follow the Interest on Required Reserve Balances and Excess Balances" link on the monetary policy tools page
i. On what date did the Fed begin paying banks interest on reserve balances?
ii. What is the current interest rate on required and excess reserves?