The stress in the overnight lending market, a critical corner of finance that rarely makes headlines, forced the New York Federal Reserve to inject yet another $75 billion on Thursday. The third-straight day of emergency action from the Fed brings the total to $203 billion, a level of intervention unseen in more than a decade. And on Thursday afternoon, the NY Fed said that it plans to pump up to $75 billion in additional cash into the system on Friday.
"While these issues are important for market functioning and market participants, they have no implications for the economy or the stance of monetary policy," Powell said.There here would be serious implications if investors felt the Fed was no longer fulfilling its role as the traffic cop of financial markets. In recent days, the Fed has failed to keep the effective Fed funds rate, which is set by the market, within its own target range.
it is going haywire.
Here we go again!
When the recession hits they will have nothing else to help since they are firing all their ammo now.
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Adjusting to a new world economy. Sometimes the old things don't work they way they once did. More tough times ahead I think.
Since Trump the economy is doing great huh?
It’s about to blow up!
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Source: Reuters - 🏆 2. / 97 Read more »