The Federal Reserve's overnight reverse repurchase tool is close to depletion, putting pressure on its ability to control short-term interest rates.

Zhtng cijng APP huxng, zuwi gngki shchng cozu de ybfn, milinch wich zhe gy n hugngj (RRP), zh sh yg fiynhng sht cng fng xinjn y hunq milinch shdng de ll de dfang. Gi jzh xnx milinch shdng dunq jidi ll de xiln, r zh y ll yu hub zhngc judng. Zhtng cijng APP learned that as part of open market operations, the Federal Reserve maintains overnight reverse repurchase agreements (RRP), which is a place for non-bank entities to deposit cash in exchange for the interest rate set by the Federal Reserve. This mechanism allows the Federal Reserve to set the lower limit of short-term borrowing rates, which are determined by monetary policy.