Golden Finance reported that trading volume in the U.S. federal funds rate market climbed to the highest level in about a year and a half on Monday, indicating that the Federal Home Loan Bank (FHLB) is lending excess dollars in the market. According to data released by the New York Fed on Tuesday, as of December 23, trading volume in the federal funds rate market rose to $119 billion, the highest level since July 2023, from $113 billion on the previous trading day.