The Federal Reserve has resumed Treasury bill reinvestment purchases, refueling debate among cryptocurrency traders about the current state of monetary policy and its effect on market liquidity. The New York Fed scheduled approximately $15.6 billion in Treasury bill reinvestment acquisitions between September 15 and October 14. No additional reserve management purchases are planned for this period. On September 16, the Fed raised its federal funds rate target range by 25 basis points, bringing it to 3.75% to 4%.