来自《耶鲁大学开放课程：金融市场第16集第16集》

the discount rate is only for banks who are in trouble.

即总认为贴现率只针对身陷困境的银行
They wanted to eliminate the stigma--

他们想抹去这不光彩的感觉
it used to be embarrassing to borrow at the discount window,

过去在贴现窗口前借钱是很尴尬的事
because the discount rate would--because it would be an admission

因为这就迫使银行承认
that the bank is in trouble.

自己已经身陷困境
So, in order to try to eliminate that stigma,

所以美联储为了避免这种尴尬
they made it a penalty rate.

将它调整为一种处罚利率
They made the discount rate higher than the Federal Funds Rate;

使贴现率调高于联邦基金利率
so now, the Federal Funds Rate is at 2.25%.

所以现在联邦基金利率是2.25%
The discount rate is now only twenty-five basis points higher;

贴现率现在仅比它高25个基准点
it's at 2.5%.

也就是2.5%
They've been cutting the spread between

美联储再次在逐渐缩小