Fed Funds Projected to Open at 0.15% to 0.17%, ICAP Says
Fed funds closed at 0.05 percent yesterday after trading from 0.05 percent to 0.28 percent and averaging 0.14 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 February 2023 to February 2031. The purchases 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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