Has the rate charged by the Fed at the discount window always been higher than the Fed Funds rate or is this something that they changed in the last couple of decades?
Has the discount window rate always been higher than the fed funds rate?
No. The discount rate is what banks pay when borrowing from the Fed. This is higher then the fed funds rate (which is the rate that banks lend to eachother) when the fed has been in tightening mode. Look at 2001 in the attached source
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