Economists propose solutions to Fed’s liquidity problem
New York Fed prepares for sustained series of interventions in coming weeks
The Federal Reserve Bank of New York conducted its fourth consecutive round of open market operations today (September 20) and indicated more would follow, raising questions to why funding strains endured beyond Monday’s spike.
The repurchase operation (repo) was the same size as those on September 17, 18 and 19, offering up to $75 billion in liquidity. Banks requested a total of $75.5 billion, slightly less than the $80 billion and $83 billion requested on September 18 and 19, respectively.
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