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VGLT - Fed Funds Rate Ticks Up To 2.44% - Highest Since 2008
Vanguard Long-Term Government Bond ETF
The Federal Reserve's decision in early 2019 to pause on interest rate hikes is widely credited as a key factor in the stock market's U-turn this year following the sharp correction in equities in late-2018. But the recent uptick in the Effective Federal Funds rate ((EFF)) suggests that the central bank is still tightening monetary policy and perhaps laying the groundwork for another rate hike.
Last Friday (Apr. 19), EFF edged up to 2.44%, the highest level in 11 years. As of Monday, EFF held at that rate. Notably, the current level for EFF is