Fed Funds Projected to Open at 0.14% to 0.18%, ICAP Says
Fed funds closed at 0.14 percent on Sept. 7 after trading from 0.06 percent to 0.17 percent and averaging 0.14 percent, ICAP Plc, the world’s largest inter-dealer broker, said in an e- mailed statement.
The central bank will acquire Treasury Inflation Protected Securities due from January 2019 to February 2042 today as part of its plan to replace $267 billion of short-term debt in its portfolio with longer-term Treasuries to keep borrowing costs low.
The central bank plans to purchase between $1 billion and $1.5 billion securities today, according to the Federal Reserve Bank of New York’s website.
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