Fed announces plans to provide more support for repo market

22 Septembre, 2019, 22:12 | Auteur: Auguste Feret
  • US Fed's Bullard says bigger rate cut 'insurance' against recession

James Bullard, head of the St. Louis Fed branch, dissented in favor of a bigger half-point cut. While there was similar turbulence in the so-called repo market in the period leading up to the financial crisis, economists say there's no need to worry this time, the financial system isn't about to seize up like it did in 2008.

The Fed's willingness to provide more liquidity on Friday is "suggesting that the funding tightness evident in the US markets earlier this week has not dissipated", Scotiabank strategists Shaun Osborne and Juan Manuel Herrera wrote in a research note.

In addition to the daily overnight operations of $75 billion, the New York Fed said it would conduct longer 14-day repo operations of at least $30 billion on Tuesday, Thursday and Friday of next week.

Clarida insisted that the break up was not an indication that the Fed was having troubles arriving on the correct rate of interest setting for the financial system.

The Federal Reserve on Wednesday announced that it was cutting its key policy rate for the second time this year, reducing its target for the federal funds rate by another quarter-point to a new range of 1.75% to 2%.

The Fed's quarterly assessment of the course of rates, known as the "dot plot", showed a wide range of views. A range of views at the US central bank is not unusual with 17 policymakers around the table, 10 of whom get to vote on rates at any given meeting.

This week's rate cut followed an even larger shift in the Fed's policy outlook since late a year ago, when many officials expected they would still be raising rates through 2019. "I think it also comes down to risk management..."

Vernal Equinox 2019: Google Doodles Celebrate as Earth's Seasons Change
Another reason why the equinoxes don't bring equal amounts of day and night time is due to the refraction of light. There's some folklore that says you can balance an uncooked egg on its end during the vernal equinox .

Man United Trio To Be Offered New Contracts
He has since been promoted to Solskjaer's first-team squad, with the United manager hailing the teenager ahead of Astana. And the Evening Standard say United now want Lingard, Pogba and Greenwood to do the same.

LSU QB Joe Burrow draws comparison to past Heisman winners
Burrow hit 13 of his first 14 passes for 244 yards before throwing his second incompletion at 9:19 in the second quarter. The Tigers scored their third touchdown of the first quarter on a nine-yard touchdown run by Clyde Edwards-Helaire.

After delivering a split-decision rate cut earlier this week, U.S. Federal Reserve officials put their divisions over the state of the economy and what should be done about it on full display Friday with warnings of a slowdown and financial risks bookending talk of how well things are going.

Rosengren, who along with Esther George had also dissented in July when the Fed first cut rates, said that he saw the rate cuts as unnecessary.

"Additional monetary stimulus is not needed for an economy where labor markets are already tight and risks further inflating the prices of risky assets and encouraging households and firms to take on too much leverage", Rosengren said.

Bullard cited elevated trade uncertainty and said: "US manufacturing already appears in recession, and many estimates of recession probabilities have risen".

The move, which Clarida supported, was aimed at offsetting slowing global growth and risks associated with U.S. President Donald Trump's trade battles with China.

Each officers issued explanations of their dissents after the blackout interval for public remark surrounding Fed conferences ended.

The Fed said that it would be ready to conduct further operations as needed after October 10 but the amount and timing of those auctions has not been determined.


  • Bus crash kills 25 in northwest Pakistan, after brakes fail

    Bus crash kills 25 in northwest Pakistan, after brakes fail

    The injured have been admitted to the district headquarters hospital in Chilas , and may be shifted to Gilgit in a helicopter. The injured passengers are reportedly in critical condition, Gilgit Baltistan government spokesperson Faiz Allah said.
    Un bébé phoque violemment battu sur la plage par un pêcheur — Nord

    Un bébé phoque violemment battu sur la plage par un pêcheur — Nord

    Après la plainte de la LPA et de Sea Sheperd pour "Actes de cruauté", il risque deux ans de prison . Le pêcheur aurait été identifié.
    Official Arsenal line up to face Aston Villa and live stream update

    Official Arsenal line up to face Aston Villa and live stream update

    Emery picks Bernd Leno in goal, while in defence he opts for Ainsley Maitland-Niles, Sokratis, David Luiz and Sead Kolasinac. They need to sort themselves out in defence and if they are not good enough, you leave them out.
  • Prince Andrew accused of sexually abusing teenager at London nightclub

    Prince Andrew accused of sexually abusing teenager at London nightclub

    He killed himself in prison before his trial. "It was such a shock to me". "He was an abuser, he was a participant", Giuffre said. He said: "I deplore the exploitation of any human being and would not condone, participate in, or encourage such behaviour".
    Minecraft va ajouter un éditeur de personnages

    Minecraft va ajouter un éditeur de personnages

    Précédemment, les skins custom étaient créées en dehors du jeu avec un outil tiers et importées pour personnalité son avatar.
    Le film de Ladj Ly, Les Misérables aux Oscars en 2020 !

    Le film de Ladj Ly, Les Misérables aux Oscars en 2020 !

    A l'international, c'est Amazon Studios qui proposera " Les Misérables " le 10 janvier 2020 aux Etats-Unis. En pleine interpellation houleuse, un drone va filmer les faits et gestes de ces policiers débordés.
  • Australia makes space deal with NASA

    Australia makes space deal with NASA

    And he had a chance to chat with American veterans who are setting up new businesses with the help of start-up incubator Bunker Labs.
    Valverde pointe le coupable de la défaite à Grenade — Barça

    Valverde pointe le coupable de la défaite à Grenade — Barça

    Le Barça a d'ailleurs attendu plus d'une heure pour son premier tir cadré! But, 2-0, et fin de l'histoire (66e). Mais le club madrilène a buté à de nombreuses reprises sur l'excellent gardien Ruben Blanco, infranchissable.
    Michigan State vs. Northwestern Live Stream

    Michigan State vs. Northwestern Live Stream

    In college football , Number-10 University of MI begins Big Ten play on the road against 14th-ranked Wisconsin tomorrow at noon. Northwestern has the luxury of staying at home another week and will welcome Michigan State at Ryan Field at noon on Saturday.
  • 4 things to watch for when Broncos face Packers in Week 3

    4 things to watch for when Broncos face Packers in Week 3

    Green Bay is already in sole possession of first place in the NFC North and will look to extend its lead with a victory on Sunday. While we're only two games into the new campaign, it certainly seems as if things are trending in that direction for the Packers.
    Les New England Patriots coupent Antonio Brown !

    Les New England Patriots coupent Antonio Brown !

    Antonio Brown n'aura fait que passer avec les Patriots de la Nouvelle-Angleterre. Accusé d'agression sexuelle, il est coupé par les New England Patriots.

    L'offre à Mikko Rantanen dévoilée

    Cependant, les dirigeants de l'Avalanche croient que le joueur autonome avec compensation devrait signer une entente plus longue.


Cancer Causing Impurities in Imported Drugs: Valsartan, Zantac
Marc Siegel on how Novartis announced that it wouldn't raise prices on its products in the United States for the rest of 2018. Those taking over-the-counter (OTC) ranitidine could switch to other OTC heartburn medicines.

Jalen Ramsey not close to being traded
Miami allowed Fitzpatrick to seek a trade when he requested his release but the Dolphins were not just going to give him away. The Jacksonville Jaguars have no interest in trading cornerback Jalen Ramsey , reports ESPN.com's Adam Schefter.

Tom Hoge leads Sanderson Farms Championship, Anirban Lahiri shoots 69
Zac Blair, Zach Johnson, Cameron Percy, Emiliano Grillo, and Seamus Power are now tied for fifth place at five-under. Tom Hoge is not wasting any time in getting to work during the PGA Tour's new wraparound season.

GLOW Renewed for Fourth and Final Season at Netflix
Wrestlers that have made appearances on the show include Joey Ryan, Carlito, Chavo Guerrero Jr., Tyrus, Alex Riley and more. Courtesy of The Wrap , GLOW has been renewed for a fourth and final season that will bring the series to a close.

US 'Posturing' by Sending Troops to Saudi Arabia: Zarif
Following the deployments, commercial ships were mysteriously attacked, drones downed and oil tankers seized in Gulf waters. The farther you keep yourselves from our region and our nations, the more security there will be for our region".

Prince Abdullah could accept Sheffield United investment from Bin Laden family
He and others plotted and executed the 2001 attacks against the United States that led to the USA invasion of Afghanistan. He revealed the relatives of Osama Bin Laden had been in talks to buy the shareholding of former co-owner Kevin McCabe.

Google to invest additional $3bn in European data centres
IHS Markit is now tracking 135 new data center building and expansion projects that are slated to finish this year. It said in May it would invest 600 million euros in a new data center on the same site.

Scottish Premiership roundup: Celtic overpower Kilmarnock as Rangers cruise
The Hoops will be the favourites to win this game as they look to claim yet another League title this season. By contrast, Kilmarnock are in seventh position after having won just two out of five games.

Ivanka Trump Attends Designer Misha Nonoo’s Wedding in Gorgeous Champagne Dress
First daughter Ivanka Trump looked glorious in a Grecian peach-colored pleated dress for the ceremony. In a fairytale wedding , designer Misha Nonoo has tied the knot with entrepreneur Michael Hess .

Zuckerberg rencontre Trump, refuse de vendre Instagram et WhatsApp, selon un élu
Sont notamment pointées: des défaillances dans le contrôle et le partage d'informations de quelque 87 millions d'utilisateurs . Le président a à plusieurs reprises fustigé le réseau Facebook qu'il accuse d'avoir pris fait et cause pour les démocrates.