NEW YORK (Reuters) - The New York Federal Reserve said late Tuesday it will conduct a repurchase agreement operation early Wednesday “in order to help maintain the federal funds rate within the target range of” 2.00% to 2.25%.
The Wednesday repo operation, which is the second after the first one in more than a decade held earlier Tuesday, will be conducted at 8:15 a.m. ET to 8:30 a.m. ET.
Reporting by Richard Leong; Editing by Chizu Nomiyama