Federal Reserve’s efforts to control short-term borrowing rates have run into some troubles, with more danger ahead.

Issues that popped up more than a month ago in the repo market, the overnight lending place where banks go to borrow money from each other.

Rates rose last week, the effort has worked fairly well so far — though not merely as much as in mid-September — finance professionals fear that the market problems are not fixed and funding issues can happen again.

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