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Fed has biggest day of injections since Sept 2001 Reuters NEW YORK, Nov 1 (Reuters) - The U.S. Federal Reserve added a total of $41 billion in temporary reserves to the banking system on Thursday, the biggest single day of such injections since September 2001. The Fed's infusions may reflect the central bank's efforts to bring the federal funds rate down nearer to its target just one day after a widely expected rate cut.
Fed funds last traded at 4.625 percent on the open market, above the Fed's target rate of 4.50 percent. A Fed spokesman would not comment on the total size of the operations, but did say it was the largest single day of operations since a total of $50.35 billion was injected on Sept. 19, 2001, following the Sept. 11, 2001, attacks on the World Trade Center.
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