Business & Finance
New York Fed to inject $75bn to control US interest rates
New York Fed had announced its first operation in more than a decade to inject up to $75 billion into money markets
- New York Fed had announced its first operation in more than a decade to inject up to $75 billion into money markets
NEW YORK: The Federal Reserve Bank of New York said Tuesday it will intervene in financial markets a second time on Wednesday morning to keep interest rates in line with the central bank's target.
Earlier Tuesday, the New York Fed had announced its first operation in more than a decade to inject up to $75 billion into money markets and keep short-term interest rates from rising too high.
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