"The Federal Reserve Bank of New York added $82.7 billion to the financial system Friday, using the market for repurchase agreements, or repo, to relieve funding pressure in money markets.
...
The Fed began offering repo loans last month after a shortage of available cash in the financial system led repo rates to climb as financial companies scrambled for overnight funding."

"Unlike its postrecession bond-buying campaigns, often called quantitative easing, or Q.E., the new effort is not monetary stimulus, the Fed stressed. Instead, the central bank is trying to keep money markets in check after a messy episode in which interest rates for repurchase agreements — essentially short-term loans between banks and other financial institutions — spiked in September. The run-up spilled over into money markets, pushing the Fed’s policy rate temporarily above the range that policymakers were targeting."

"Messy episode"? Heh.

"Mr. Powell and his colleagues have repeated, time and again, that the current balance sheet expansion should not be confused with quantitative easing.
...
“When it swims like a duck and quacks like a duck, it’s hard to prove your intentions aren’t fowl,” Paul Ashworth, chief economist at Capital Economics, wrote in research note.

At the September meeting, the Federal Reserve policymakers lowered the "overnight lending rate by a quarter percentage point."

"The U.S. central bank has lowered borrowing costs twice this year after having raised interest rates nine times since 2015."

"Since the [Federal Reserve September] meeting, economic data has increased fears that trade tensions are spilling over to the broader economy. U.S. manufacturing activity tumbled to a more than 10-year low and service sector activity fell to a three-year low in September. Consumer spending, which has been driving U.S. growth, has also begun to moderate."

Is it that we are learning too much, but don't know enough? Maybe it is that we should go about leading our ordinary lives and hope for the best. My only problem is I don't have much confidence in Federal policies right now. The Federal Reserve is supposed to be independent of the President and his cohorts, but are they acting in that manner?