Down from 5.3%, previously. Which has been the standing rate since August 2023.
Short term (~1-3 months) T-bill yields will quickly reflect this new rate.
quotingWhat I'm watching... 👀
note19th…pzpz
The Federal Funds Effective Rate (FFER) has been set at 5.33% since August 2023.
It will almost certainly be lower by the end of the day.
The FFER heavily influences short-term T-bill rates, as well as the amount and flow of money utilizing Overnight Reverse Repurchase Agreements... which is a significant component of US Net Liquidity.
#macro