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U S retail sales fall in May; producer prices increase
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Retail Sales Dropped 1 3% in May as Consumers Focus on Travel and Entertainment
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Судя по всему, абсурд станет постоянным — Фонд стратегической культуры
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by Tyler Durden
Tuesday, Jun 01, 2021 - 12:46 PM
One month after the Fed s key benchmark administered rate - the effective Fed Funds rate - hit the second lowest on record, or 0.05%, only to stage a modest increase for in the month of May when it traded at 0.06% for most of the month, overnight the closely watched EFF dipped once again, inching back closer to zero overnight, and is just 1 basis point away from the lowest print ever.
The effective fed funds rate, which the central bank is currently aiming to keep within a range of 0% to 0.25%, slipped by 1 basis point to 0.05% on May 28, the lowest since April. A chronically lower level in the EFF raises the possibility that the bank will tweak the rates it sets for interest on excess reserves and its reverse repurchase agreement facility, although according to Goldman simplyy raising the IOER will not be as effective in raising both the RRP and IOER rates. If the Fed did move both rates up by 5bp, Goldman s model suggests that