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Evaluate the determinant.
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Fed
Refers to the Federal Reserve, the central banking system of the United States, responsible for monetary policy.
Monetary Policy
Actions by a central bank to influence the economy by adjusting interest rates and the amount of money in circulation.
Time Inconsistency Problem
A situation where a decision-maker's preferences change over time, leading to a conflict between past and present desires.
Saving Rate
The portion of disposable income that is not spent on consumption but saved or invested.
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