Begginer question about fed interest rates?

[ER9]

i'm new to the economic side of trading, economic news and reports. iv'e just started to try and understand them since realizing the impact they have on my trading.

my question is when you hear quoted the fed is raising/lowering interest rates, do they mean exclusivelly rates on home financing or a general rate that applies across the board?

 

[xtrhvydty]

http://www.federalreserve.gov/policy.htm

 

[Banjo]

http://www.federalreserve.gov/fomc/#2004

Pick up a copy of " Trader Vic- Methods of a Wall Street Master" by Victor Sperandeo. Paperback, probably the the most succinct expalnation of Fed mechanics and the fractional system for the newbie.

 

[ER9]

DOH! lol....never thought of checking their website. i appreciate the links.

thanks banjo....i appreciate the recomendation on the book. i was just about to ask if anyone could recomend a book that would give a begginer a good introduction into the mechanics of the reserve and how they affect the markets.