are you implying cutting FF rate will lower longer term treasury (mortgage) rates? To me this would create an opposite effect, if the rate cuts...
it seems FF leads the discount, in Jan '01 they dropped FF by 1/2 pt and the discount followed by 1/4 on two consequitive days, in the late 1990's...
the new york fed page has a disclaimer (footnote 1) that daily effective FF rate is subject to a revision, is it safe to go by these numbers when...
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