2.         Since Summer
2007 when the current great recession started, the Fed has lowered
the discount rate from 6.25 percent to 0.75 percent.
During the same period, the Fed also lowered the federal
funds rate target to 0.15 percent from a high of 5.30
percent. Following the week of August 15, 2011, when the stock
markets around the world declined significantly, the Fed announced
that it will keep interest rates at low level until 2014. Indeed,
as of August 23, 2013, the discount rate is still 0.75 percent,
while the targeted federal funds rate is between 0.0 and 0.25
percent. Mr. Bernanke also added that his policy will calm markets
as it removes uncertainties about monetary policy in order to
maintain

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