17 days ago • Posted by Djellza Kolloni

Fed funds effective rate slips closer to the bottom of the target range

The important benchmark that the Federal Reserve uses to set monetary policy has fallen for the second time in two weeks, indicating that the front-end cash surplus is spilling into this part of the funding markets. The effective fed funds rate, which the central bank is presently attempting to keep within a range of 0% to 0.25%, fell by one basis point to 0.08% on August 27, according to the Federal Reserve. Source: Bloomberg