by mk

In accordance with the most recent FOMC directive, the Open Market Trading Desk (the Desk) at the Federal Reserve Bank of New York will conduct additional overnight repurchase agreement (repo) operations for same-day settlement each afternoon from 1:30 PM ET to 1:45 PM ET for the remainder of the current monthly operational schedule. These repo operations will be conducted for an aggregate offered amount of $500 billion. Also, the aggregate offered amount for the overnight repo operations conducted each morning will increase to $500 billion for the remainder of the current monthly operational schedule.

For scale:

The US money supply M0 is $3.4T.

The US Federal Budget for 2019 was $4.4T.

Total US personal savings is $1.3T.