Fed Steps Into Repo Market to Control Soaring Rates

Wall Street Journal  | Tue, Sep 17, 2019

by Nick Timiraos


The Federal Reserve Bank of New York said it would carry out up to $75 billion of transactions known as repurchase agreements on Tuesday to relieve funding pressure in overnight money markets.

Strains developed Monday in short-term financing markets that suggested the central bank could lose control of its benchmark federal-funds rate. 

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