Feedback fluid queues play an important role in modeling congestion control mechanisms for packet networks. In this paper we present and analyze a fluid queue with a feedback-based traffic rate adaptation scheme which uses two thresholds. The higher threshold $B_{1}$ is used to signal the beginning of congestion while the lower threshold $B_{2}$ signals the end of congestion. These two parameters together allow to make the trade--off between maximizing throughput performance and minimizing delay. The difference between the two thresholds helps to control the amount of feedback signals sent to the traffic source. In our model the input source can behave like either of two Markov fluid processes. The first applies as long as the upper thresho...