The Fed says it will continue overnight repos of at least $75 billion through November 4
Reuters/Kevin Lamarque
The Federal Reserve announced Friday that it will extend overnight repos of at least $75 billion through November 4. Since short-term rates shot up as high as 10% in September, the Fed has injected hundreds of billions of dollars into money markets. The Federal Reserve will continue its practice of injecting money into financial markets through November 4 to help keep the federal funds rate within the bank's target.
The Friday announcement also included eight term operations that will take place between October 8 and October 29. The first three have limits of at least $45 billion, and the rest have limits of at least $35 billion. After November, it has yet to be determined if the Fed will continue the practice "The operation schedules are subject to change if market conditions warrant or should the FOMC alter its guidance to the Desk," the FedThe announcement comes after a number of efforts to stabilize money markets and contain interest rates that began in September. Since then, the Fed has pumped
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