“My view is that monetary policy should avoid deliberately stoking the risks that come with overheating the US economy and instead, slowly raise the federal funds rate to promote maximum employment commensurate with the economy’s long-run potential to increase production.” What are Fed Funds? Fed Funds are overnight loans from one bank to another bank. It is not the rate at which the Federal Reserve Bank (America's central bank) is lending money an American bank.
My goal is to explain the most important concepts about Money and Banking in the most simple way possible. Why should I care about a system I am not able to understand and about people that are way better in handling this chaotic system than I could possibly do?