[lbo-talk] Fed makes soothing noises

Doug Henwood dhenwood at panix.com
Fri Aug 10 06:30:26 PDT 2007


[A day late, but hey. It's odd they cite the exact fed funds target, as if underscoring their intention of keeping it there.]

<http://www.federalreserve.gov/boarddocs/press/monetary/2007/20070810/ default.htm>

For immediate release

The Federal Reserve is providing liquidity to facilitate the orderly functioning of financial markets.

The Federal Reserve will provide reserves as necessary through open market operations to promote trading in the federal funds market at rates close to the Federal Open Market Committee's target rate of 5-1/4 percent. In current circumstances, depository institutions may experience unusual funding needs because of dislocations in money and credit markets. As always, the discount window is available as a source of funding.



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