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.