New York Fed To Start Testing New Repo Tool To Manage Rates

wochit business
September 20, 2013 AT 7:33 AM
The New York Federal Reserve will begin tests of a new tool being developed to help it better control the level of short-term interest rates once the Fed finally starts to raise its official interest rate. The statement sparked some selling of short-dated Treasuries, though some traders said that fears over the application of the facility were probably overstated as it is unlikely to be implemented for some time.