Fed Funds Projected to Open at 0.08% to 0.1%, ICAP Says
Fed funds closed at 0.08 percent yesterday after trading from 0.03 percent to 0.25 percent and averaging 0.07 percent, according to ICAP Plc, the world’s largest inter-dealer broker.
The central bank will acquire $750 million to $1 billion of Treasuries maturing from August 2023 to February 2031. 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.
To contact the editor responsible for this story: David Liedtka at firstname.lastname@example.org