The Federal Reserve announced on Friday that it will buy Treasury bills to maintain ample reserves in the banking system. In a statement, the Fed said that the purchases will last into the second quarter of next year. The initial size of the T-bill purchases will be about $60 billion per month. In addition, the Fed said it will conduct overnight repo operations at least through January to mitigate the risk of money market pressures. The Fed will purchases will start Tuesday. The FOMC met via videoconference to discuss pressure in the money market on Oct. 4.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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