Fed Officials Mull Reverse-Repo Rate Cut to Control Benchmark

The Federal Reserve is once again considering a tweak to one of the tools used by the US central bank to help control its main benchmark, according to its latest minutes.

Some policymakers at the November policy meeting said they see value in considering a “technical adjustment” to the offering rate on the central bank’s overnight reverse repurchase agreement facility, known as the RRP, so that it’s equal to the bottom of the target range for the federal funds rate.

“Lowering the ON RRP offering rate five basis points would align the ON RRP offering rate with the bottom ...