Investor's Business Daily - The central bank auctioned funds to commercial banks at a 3.123% interest rate, the lowest of the 4 TAF auctions that started in Dec. That's not surprising given big Fed rate cuts. Demand was light ahead of the Fed's Wed. policy decision. Chairman Ben Bernanke has said the Fed will hold the auctions as long as needed. Analysts say the auctions have eased bank liquidity fears and high money rates by getting cash to the banks that need them.
Tuesday, January 29, 2008
Economy - Tuesday (Investor's Business Daily)
Investor's Business Daily - The central bank auctioned funds to commercial banks at a 3.123% interest rate, the lowest of the 4 TAF auctions that started in Dec. That's not surprising given big Fed rate cuts. Demand was light ahead of the Fed's Wed. policy decision. Chairman Ben Bernanke has said the Fed will hold the auctions as long as needed. Analysts say the auctions have eased bank liquidity fears and high money rates by getting cash to the banks that need them.
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