Moomoo is really convenient. There is a software that handles transactions in Singapore and the US, and the transaction fees are affordable, so there's no need to switch back and forth between different trading systems!

Financial journalists usually focus on the federal (fed) funds rate. This is the rate banks charge each other for overnight loans. The Fed has a target for the fed funds rate as part of its monetary policy strategy. But the fed funds rate is not an instrument. That is, it’s not something the Fed directly controls. Rather, the Fed sets its federal funds rate target and then uses its instruments to push the federal funds rate toward its target. The federal funds rate might be thought of as a barometer for monetary policy. But it is not the substance of monetary policy. These include the discount rate, which the Fed charges for loans, and the interest rate on excess reserves, which the Fed pays to banks that keep funds in their accounts at the Fed. The discount rate usually doesn’t matter much, because banks try not to borrow from the Fed directly, given the stigma associated with discount window lending. Interest on excess reserves is another story. Especially in a floor system, which the Fed has embraced since 2008, interest on excess reserves matters. But even here the Fed does not have complete freedom. Set the interest on excess reserves too low, and banks won’t keep their funds with the Fed. Set it too high and you choke off economic activity, because banks let capital sit idle rather than investing it in productive projects. The feasible range for interest on excess reserves is determined by factors largely ou...