The rate cut – which pushes the fed funds rate to its lowest level since the Fed started targeting it – was larger than most economists had expected. It could present problems for money market funds and for the repo market which has technical difficulties operating near zero rates. With the actual federal funds rate consistently trading below the target rate, the actual fed funds is likely to be near zero in the months ahead.
此次降息幅度超出大多數經濟學家的預期,這使得聯邦基金利率降至美聯儲開始對其實施目標管理以來的最低水平。這可能給貨幣市場基金和回購市場帶來問題,回購市場要在接近零利率的區間運行,存在技術上的難度。鑒于實際聯邦基金利率一向低于目標利率,未來幾個月內實際聯邦基金利率很可能接近于零。
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