Fed Funds Projected to Open at 0.15% to 0.17%, ICAP Says
Fed funds closed at 0.09 percent yesterday after trading from 0.07 percent to 0.27 percent and averaging 0.15 percent, according to ICAP Plc, the world’s largest inter-dealer broker.
The central bank will acquire $1.25 billion to $1.75 billion Treasuries maturing from February 2036 to February 2043. The transactions are part of the Fed’s latest round of debt purchases, known as quantitative easing, aimed to keep long-term rates low and support economic growth.
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