During the Covid-19 pandemic the interest rate was kept at a near-zero range but has changed course as inflation has surged. All in all what I see here is a rather nice example of what the lending market looks like with a gold standard system when the Federal Reserve is not actively managing interest rates.
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In June the Federal Reserve announced that it would raise interest rates by 075 shifting the target range to 075 to 175.
. The Federal Reserve at this time was doing much what the Bank of England did throughout the 19th century the era of the so-called Classical Gold Standard.
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