After dropping the benchmark federal funds rate to a range of 0%–0.25% early in the pandemic, the Fe...
Dec 27, 2024
Where Americans Are Stashing Their Cash
The level of the federal funds rate affects many short-term interest rates, including the yield on money market funds, which invest in high-quality, short-term debt instruments and cash equivalents. Investors often use money market funds as "sweep accounts" for clearing brokerage transactions. They can also be a good place to keep cash set aside for emergencies or large purchases such as a vacation, car, or home — especially now that they tend to offer higher yields than most savings accounts.

Prepared by Broadridge Advisor Solutions Copyright 2024.
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