The Annapolis Convention was called to discuss issues related to interstate trade. Only 5 states were represented at the convention. It basically allowed the states to take part in deciding the process of trade and commerce for the US. How the states can regulate trades and be in harmony with one another and be part of the overall process of drafting interstate trade. Organized due to a suggestion by James Madison, this was a platform for all states to come together and discuss interstate trade, to boost the economy. However, there was a low attendance as only 5 states were represented.
FOMC sets a target federal funds rate eight times a year, based on prevailing economic conditions. The federal funds rate can influence short-term rates on consumer loans and credit cards as well as impact the stock market.
