Fed’s Dec. 9–10 Minutes Highlight Liquidity Risks; $220B T‑Bill Buys Discussed

The Federal Reserve released minutes on Dec. 30 from its Dec. 9–10 meeting, flagging rising liquidity risks and fragility in short‑term funding, according to the record. Officials weighed technical T‑bill purchases near $220 billion and repo facility tweaks, while, as of Jan. 2, traders saw an 85.1% chance the 3.50%–3.75% target range holds into Jan. 27–28, 2026.