One more Fed meeting: what’s up this time?

News of the day, Monday, February 14

The USA's economy has decreased to a record low level according to the Heritage Foundation’s economic freedom annual index. The report points out that the USA has fallen by 2,7 points compared to the economic freedom index of 2021. The current level is 72.1 which puts the USA in 25th place in the world. Kevin Roberts, the president of Heritage Foundation said: "The decline of American economic freedom is serious cause for alarm and has real and tangible consequences for all Americans, especially low-income families and the working class."

Another challenge of USA economics is yet to be resolved. The closed meeting of the Board of Governors of the Federal Reserve System is arranged today, on Monday. The matter to be considered is “Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks”. The discount rate is the rate of interest charged to industrial banks and different repository establishments on loans they receive from their regional FRS Bank's disposition facility — the discount window. The FRS Banks supply 3 kinds of credit to depository institutions: primary credit, secondary credit, and seasonal credit, every with its rate of interest. All discount window loans are secured.

The price of Brent crude is $94.30, WTI — $93.20, GBP/USD — 1.3502, EUR/USD — 1.1309, and gold costs $1858.80 per ounce.