Wall Street Examiner Exclusives

The Fed’s Rate Hike Hoax- There Is No Short Term Money Market

There Is No Fed Funds Market - Click to enlarge

The Fed has “raised interest rates” (wink-wink). Its primary tools in this make believe policy are interest on excess reserves (IOER) and the interest paid on reverse repos (RRP). The new Fed Funs target rate is now 25-50 bp. Fed Funs were reported to be trading at a weighted average rate of 36 bp on December 22.