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Banking & Financial Institutions

Fed looking at new interest rate tool

by Bernie Becker - 12/12/13 9:46 AM ET
by Bernie Becker - 12/12/13 9:46 AM ET

An experimental New York Fed program could be the future for setting interest rates, The Wall Street Journal reports.

{mosads}The so-called “reverse repo” facility could come in handy in the future when the Fed wants to raise short-term interest rates, the Journal wrote.

The new system would allow the Fed to borrow in the future against its portfolio, instead of shifting an overnight rate.

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