The federal funds rate is the interest rate at which banks borrow and lend to one another overnight. While consumers do not borrow at that rate directly, Fed policy has a significant impact on consumer borrowing costs and savings returns.
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The House voted to hold billionaire Leon Black in contempt of Congress for his refusal to comply with subpoenas issued to him related to a committee’s ongoing investigation of the notorious late sex offender Jeffrey Epstein. cnb.cx/46ut0rr
