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Go to www.federalreserve.gov/FOMC/default.htm, the official Wedsite of the Federal Open Market Committee (FOMC) of the FederalReserve Board. Scroll down the page and choose the link to one ofthe most recent statements from FOMC meetings.In your initial response to the topic you have to answerall questions:Define the Federal Funds Rate. What is the current Federal FundsRate?Define the Federal Reserve Discount Rate. What is the currentFederal Reserve Discount Rate?What are the factors cited in this statement that determined theFOMC’s decision of changing (or keeping constant) its target forthe federal funds rate?Does the Fed have control over the federal funds rate and overbank reserves? If so, can the Fed control both simultaneously?