World / Americas Federal Reserve adds third dose of liquidity to money market Fed chair Jerome Powell says the central bank will keep up repo operations if that is what it takes to get markets back on track BL PREMIUM

Washington — The Federal Reserve added a third dose of liquidity to a vital corner of the funding markets on Thursday, helping rates retreat further as investors warn that fresh bouts of stress remain possible in the weeks ahead.

The New York Fed injected another $75bn on Thursday through an overnight repo operation. That followed a dose of the same size on Wednesday and $53.2bn on Tuesday. The operations, commonplace in prefinancial crisis times, temporarily add cash, with the Fed taking government securities as collateral.