The New York Fed held an overnight repurchasing operation for the second time this week on Wednesday morning. The U.S. central bank carried out the full $75 billion of repos, temporarily buying securities from Wall Street dealers to inject liquidity into the system. Earlier this week, a surge in the repurchasing rate, used by hedge funds and banks to fund their trading operations, pushed the fed funds rate close to the top of its targeted range. The incident stirred worries that the central bank is at risk of losing its grip over its benchmark interest rate.
https://www.marketwatch.com/story/fed-carries-out-repo-operation-for-second-straight-day-2019-09-18
2019-09-18 12:39:00Z
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