Fed pumps more cash as key rate breaks above target

FILE PHOTO: The Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 27, 2019. REUTERS/Brendan McDermid

NEW YORK (Reuters) – The Federal Reserve injected another $75 billion into the U.S. banking system on Wednesday, restoring a measure of order after a bout of extreme volatility inside the bank funding market drove the central bank’s benchmark interest rate above its targeted range for the first time since the financial crisis. The ructions […]

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