Morning Scan: Fed's Rate Hike Implications Scrutinized

Receiving Wide Coverage…

It Finally Happened: And in the end it was unanimous. After more than half a decade the Federal Reserve finally raised interest rates, setting the federal fund rate target range to between 0.25% and 0.50%. To raise rates, though, the Fed has come to rely on a new tool, its so-called "overnight reverse repo" program (RRP), the Financial Times notes. Through the RPP, approved counterparties offer cash loans in exchange for Treasuries under...