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...'

thanks! excerpt-

...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.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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 »