Logan: Fed should abandon federal funds rate and use overnight interest rate on Treasury bonds instead
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最新报道：According to Bijie.com, Dallas Fed President Logan stated on September 26 (UTC+8) that the Fed should abandon the federal funds rate as a benchmark for conducting monetary policy and instead consider an overnight rate tied to the U.S. Treasury bond-backed lending market. She believes the federal funds rate target is outdated and that the link between the interbank market and the overnight money market is fragile and could suddenly break. Logan noted that the Tri-Party General Guaranteed Rate (TGCR) could offer the most benefits, as the TGCR covers over $1 trillion in daily transactions, while the federal funds market currently averages less than $100 billion.
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