Question: Complete the following passage explaining how the average American is affected by monetary policy changes. If the Fed raises the interest rate on excess reserves,

Complete the following passage explaining how the average American is affected by monetary policy changes. If the Fed raises the interest rate on excess reserves, the to banks of loaning money The supply of loanable funds therefore pushing interest rates and banks, correspondingly, the interest rates they charge on car loans, mortgages, student loans, credit cards, etc

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