Fed funds closed at 0.10 percent on Nov. 25 after trading from 0.05 percent to 0.12 percent and averaging 0.09 percent, ICAP Plc, the world’s largest inter-dealer broker, said in an e- mailed statement.
The central bank will acquire Treasuries maturing from February 2020 to November 2021. The purchases are part of the Fed’s program to replace $400 billion of short-term debt in its portfolio with longer-term Treasuries to reduce borrowing costs further and counter rising risks of a recession.
The Fed plans to purchase $4.25 billion to $5 billion of securities today, according to the New York Fed’s website.
To contact the reporter on this story: Liz Capo McCormick in New York at email@example.com
To contact the editor responsible for this story: Dave Liedtka at firstname.lastname@example.org