The Federal Reserve Bank of New York encourages firms to use the Standing Repo Facility as needed, saying large-scale usage is not an issue. Roberto Perli emphasizes that the tool should be utilized whenever economically sensible. The Fed has been shedding bonds since 2022 to control market liquidity levels and allow normal market volatility. Rising money market rates and usage of the SRF indicate tightening liquidity. While SRF usage was lower than expected in October, it could increase as Wall Street becomes more accustomed to using the tool. New York Fed President John Williams suggests Fed bond holdings may soon need to rise.

Read more at 1. Tesla reports record-breaking $1.1 billion profit in Q3. – CNBC
2. Apple unveils new MacBook Pro with M1 Pro and M1 Max chips. – Wall Street Journal
3. Facebook changes its name to Meta as part of rebranding effort. – Reuters
4. Amazon announces plans to hire 150,000 seasonal workers for the holiday season. – Barchart: NY Fed’s Perli encourages use of Standing Repo Facility to deal with liquidity needs