In 2015, one article in the Wall Street Journal discussed the possibility of "a September quarter-point increase in the Fed's range for overnight target rates," while another article noted, "the U.S. central bank's discount rate ... has been set at 0.75% since February 2010."
a. What is the name of the Fed's "target rate"?
b. Briefly explain who borrows money and who lends money at this "target rate."
c. What is the discount rate, and how is it different from the "target rate"?