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The Fed Just Pumped $278 Billion Into the U.S. Economy: Here’s How

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Last week, the Federal Reserve leveraged one of its tools for tinkering with U.S. financial markets — one that it hasn’t used since the Great Recession. 

The New York branch of America’s central bank financed some $278 billion worth of repurchasing agreements (repo) from September 17 to 19, 2019. For some market watchers, the move raised an alarm because, as Nobel laureate Paul Krugman put it, the financial turmoil that necessitated this intervention “was at the heart of the 2008 financial crisis.” Still, other economists have posited that the cash injections came in response to a hiccup ...

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