Discount & Interest rates Small question, is discount rates and interest rates the same/similar thing in economics? A bit confused regarding this.
They are related but they are not same.

An interest rate is broad term for what you pay for the use of assets as a percentage of the value of the asset or principal. See for example definition here. 

A discount rate can be the interest rate that Fed charges at its discount window, or it is often in theory used more broadly as the rate at which people discount future cash flows. The latter is also in a sense an interest rate but not interest rate charged by any institution but the one that person would expect to receive to  be compensated for lending/investing their resources and postponed consumption.