Fed funds closed at 0.1 percent yesterday after trading from 0.1 percent to 0.18 percent and averaging 0.15 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 maturing from January 2019 to February 2042. The purchases are part of the Fed’s program to replace short-term debt in its portfolio with longer-term Treasuries in an effort to keep borrowing costs low.
The central bank plans to purchase between $1 and $1.5 billion securities today, according to the Federal Reserve Bank of New York’s website.
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