On December 24th, trading volume in the federal funds rate market climbed to its highest level in about a year and a half on Monday, indicating that the Federal Home Loan Bank (FHLB) is lending out excess dollars in the market. According to data released by the New York Federal Reserve on Tuesday, as of December 23, the trading volume of the federal funds rate market rose to $119 billion, the highest level since July 2023, compared to $113 billion on the previous trading day.
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