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FIS 260 Week 9 Final Project The Current Financial Environment
Research and compare the following services provided by three different commercial banks or other depository institutions: the current interest charged on a variable credit card account, the current annual percentage rate for a new car, and the current interest rate on a year fixed mortgage.
List the depository institutions and each separate rate.
Research and answer the following questions: What is the current prime rate? What is the current federal funds rate? What is the current Fed discount rate? What is the current GDP?
Discuss, in a 1,050- to 1,400-word analysis of your findings, the current financial situation, and explain in detail how the federal funds rate and discount rate are related to the prime rate, and how the prime rate in turn is related to the services provided by the banks you researched. Address the following points in particular:
a. The date of the last federal funds rate increase or decrease
b. The amount of the increase or decrease
c. The rational behind the latest increase or decrease
d. The effect of the increase or decrease on the overall economy and upon you as an individual. Do not include any specific personal financial data.
Cite your sources. Post your analysis to the Assignment section as an attachment.
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