Fed overnight reverse repo usage rises to $150M on Nov 6

The RRP facility's near-empty usage is the real signal: with only one counterparty and a token amount, the tool is doing little work absorbing excess cash, which points to where short-term liquidity is sitting rather than any policy shift. The move from the prior day is noise at this scale. What matters is whether take-up stays this negligible as money-market conditions evolve, since persistently low RRP usage shapes how the Fed's balance-sheet and funding dynamics are read.