Ed. Note: OK. This is a joke. The Fed is upping the limit just when the RRP slush fund is about to top out. Is it stupidity, or cynicism. I say the latter.
The Federal Open Market Committee directed the Open Market Trading Desk at the Federal Reserve Bank of New York to conduct overnight reverse repurchase agreement (ON RRP) operations with a per-counterparty limit of $160 billion per day, effective September 23, 2021.
