| June 2007 | June 2008 | |
| Federal funds rate | 5.25% | 2.00% |
| One-month certificates of deposit (CDs) | 5.30% | 2.50% |
| Interest-bearing demand deposits | 2.30% | 1.24% |
| Currency | 0 | 0 |
| CDs minus interest-bearing demand deposits (percentage points) | 3.00 | 1.26 |
| CDs minus currency (percentage points) | 5.30 | 2.50 |
|
Data from: Federal Reserve Bank of St. Louis. |
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