Economics
Fed Tinkers With Tools to Defend Floor From Market Awash in Cash
- RRP rate raised to 0.05%; target range for fed funds unchanged
- Adjustment should help bolster the central bank’s 0% floor
This article is for subscribers only.
Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.
The Federal Reserve on Wednesday tweaked the rates on some of the tools used to help control the benchmark even as it left unchanged the overall target range for the fed funds rate.