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![AlphaBetaAnil Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::2403576536.png) Anil [@AlphaBetaAnil](/creator/twitter/AlphaBetaAnil) on x 8834 followers
Created: 2025-07-17 02:45:59 UTC

Before 1913, each U.S. state had its own rules on interest rates—via “usury laws” capping how much lenders could charge. No Fed, no national monetary policy. It wasn’t until the Federal Reserve was born that a central rate like the Fed Funds Rate even existed.


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**Related Topics**
[federal reserve](/topic/federal-reserve)
[fed](/topic/fed)

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