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The Spokesman-Review | Local News, Business, Entertainment, Sports & Weather for Eastern Washington
Oil prices cooled on Wednesday as Saudi Arabia said the kingdom had fully restored its oil supply following attacks on its crude facilities although caution ahead of an expected U. Treasury yields slipped ahead of an expected interest rate cut by the Federal Reserve at its two-day policy meeting on Wednesday. The interest rate's spike signaled an imbalance between the supply of bank reserves and Treasury securities—namely, an excess of Treasuries and a scarcity of reserves. To address that imbalance, the Federal Reserve broke out an old policy-implementation tool for the first time in years.