NY Fed to pump $75 bn into money markets daily through Oct 10
Daily? This is up to 1.5 TRILLION created out of thin air, though most of it will be retired. What is going on?
(From Yahoo News)
The Fed will offer up to $75 billion a day in repurchase agreements — exchanging secure assets for cash for very short periods — through October 10, it said in a statement…
…Banks have struggled in recent days to find the cash needed to meet reserve requirements which has pushed up short-term borrowing rates, prompting the New York Fed to pump billions into US money markets with repo operations over the past four days.
http://www.againstcronycapitalism.org/
Source: https://www.ac2news.com/2019/09/ny-fed-to-pump-75-bn-into-money-markets-daily-through-oct-10/
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