Fed injects $278 bn in US interbank market: Is it the dawn of recession?
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After more than a decade, Fed experienced the need to intervene in the US interbank market by injecting a total of $278 billion within 4 days. Fed will continue to inject $30 billion every week until October 10 making the total figure touch an approximate of $400 billion. This step was taken after the repo rate reached 8% from 2% implying some banks, probably a big one, ran out of liquidity and was in desperate need of cash to stay in business.
Fed injects $278 bn in US interbank market: Is it the dawn of recession?
Fed injects $278 bn in US interbank market…
Fed injects $278 bn in US interbank market: Is it the dawn of recession?
After more than a decade, Fed experienced the need to intervene in the US interbank market by injecting a total of $278 billion within 4 days. Fed will continue to inject $30 billion every week until October 10 making the total figure touch an approximate of $400 billion. This step was taken after the repo rate reached 8% from 2% implying some banks, probably a big one, ran out of liquidity and was in desperate need of cash to stay in business.