At its December 14 th and March meeting the Federal Reserve Bank increase the federal funds interest rate. a. Discuss what is the federal funds rate

At its December 14th and March meeting the Federal Reserve Bank increase the federal funds interest rate.

a. Discuss what is the federal funds rate

b. What are the objectives of such a raise?

c.. How is an increase in the federal funds rate transmitted to the economy. Discuss the various channels of transmission.