On Tuesday the Federal Reserve bought $53.2 billion of short-term securities to stabilize the market for money market securities. A funding shortage on Monday and Tuesday had led rates on overnight general collateral repurchase agreements to climb as high as 10% and pushed the effective Fed Funds rate, the interest rate that the Fed sets […]


To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the site. And we'll throw in the first week free! If you change your mind during that first week, just cancel your subscription from your profile page, and you won't be billed anything.