Fed announces plans to provide more support for repo market

The Federal Reserve will keep pumping cash into a vital but obscure corner of U.S. financial markets in coming weeks.

Officials say this week's spike in rates is not a precursor of the type of underlying troubles that preceded the 2008 market meltdown. In the fourth operation on Friday, banks asked for $75.55 billion in reserves, only slightly higher than the $75 billion limit set by the Fed. The Fed announced on Wednesday that it was cutting the benchmark rate by a quarter-point to a new range of 1.75% to 2% as it seeks to cushion the U.S. economy from various threats, ranging from a slowing global economy to shocks from President Donald Trump's trade war with China.

'best economy of all time...'

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...One evening in Lewiston and my check engine lights on...surprise surprise...

This is market manipulation at its finest.

Trump's 2020 recession is coming.

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New York Fed to continue operations in overnight funding market until mid-OctoberThe process will involve three 14-day operations involving $30 billion as well as continued overnight operations of at least $75 billion each. Markets must be very healthy Banks are either insolvent or they are short of cash. BankFailureFriday
Source: CNBC - 🏆 12. / 72 Read more »