The Federal Funds Rate is the rate that banks borrow and lend to each other overnight.

联邦资金利率是,一夜间银行之间借进与借出的比率。

耶鲁公开课 - 金融市场课程节选

I've got the Federal Funds Rate--it's the shortest interest rate, an overnight rate--it was at 4% at that time and then there was a sharp drop.

这是联邦基金利率,是最短期的利率,当时的隔夜拆借利率是4%,接下来利率急速下跌

耶鲁公开课 - 金融市场课程节选

The shortest term debt instrument in the United States is the Federal Funds Rate, which is an overnight rate--one day maturity-- and the longest issued by the Government is a thirty-year government bond, which will be repaid three decades in the future.

美国最短期的债券,是联邦基金利率,隔夜拆兑,一天到期,而时间最长的国债,是一种三十年期的政府债券,未来三十年才兑现

耶鲁公开课 - 金融市场课程节选