In normal times, the federal funds rate would more fully capture firms' costs of overnight borrowing, making it a good foundation from which to calibrate other interest rates.

在正常时期，联邦基金利率会更加全面地反映企业隔夜拆借的成本，从而使其成为计算其它利率的一个良好参照基础。

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In normal times, the federal funds rate would more fully capture firms' costs of overnight borrowing, making it a good foundation from which to calibrate other interest rates.

在正常时期，联邦基金利率会更加全面地反映企业隔夜拆借的成本，从而使其成为计算其它利率的一个良好参照基础。

youdao