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The Federal Reserve Bank of New York received no bids in its overnight repurchase operation.US President Trump: Seeking to break this powerful monopoly.US President Trump: Ranchers and farmers face huge problems with large processors, which many call a vicious monopoly.On August 28th, US President Trump posted: “Rasterers and farmers have long been one of my top priorities. They are hardworking, smart, efficient, meticulous, and very clean. But for years I have heard them complain about being severely hampered by large food processing companies. Many believe these companies have created a disgusting monopoly. In reality, there are only about four large companies in this industry, a number that obviously lacks competition. These companies make it difficult for our excellent farmers and ranchers to operate, and I will not allow this to continue. Therefore, to break this powerful monopoly (most of which is owned outside the United States), I have authorized the drafting of legislation that empowers farmers and ranchers to process their own food. This work will proceed swiftly.”US President Trump: I cannot allow large processors to harm farmers and ranchers.