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Fed pumps more cash as key rate breaks above target

The Federal Reserve injected another $75 billion (£60 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.

Powell to Trump: Now it's your turn

Tucked into Fed Chair Jerome Powell's news conference on Wednesday was a not-so-subtle message for President Donald Trump: the economy is holding up because the U.S. central bank has acted to support it through a volatile patch, and whether that continues is now in the president's lap.

U.S. bankers seize on repo-market stress to push for softer liquidity rules

Big U.S. banks are using the recent chaos in short-term funding markets as an opportunity to pressure the Federal Reserve to ease liquidity requirements they have long despised. On Wednesday, a major industry lobbying group and the chief executive of the largest U.S. bank criticized Fed-imposed standards of how much idle cash banks must keep on hand, blaming a liquidity rule that is hated on Wall Street for causing market jolts in recent days. "Banks have a tremendou

ECB should take climate change into account - Villeroy

The European Central Bank should take climate change into account in the way it runs monetary policy, ECB policymaker Francois Villeroy de Galhau said on Wednesday, backing a suggestion from the bank's incoming chief.

The Fed has a repo problem. What's that?

As if the U.S. Federal Reserve did not already have enough on its plate heading into its meeting on interest rates this week, chaos deep inside the plumbing of the U.S. financial system has thrown policymakers an unexpected curveball.

From oil shocks to funding strains, Fed confronts new complexities

The Federal Reserve will conclude its latest policy meeting on Wednesday buffeted by conflicting economic data, under steady pressure from the White House for steep interest rate cuts, and confronted as well with an unexpected jump in overnight borrowing costs that may require action on its own.

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