Federal Reserve announcements and meeting minutes

U.S. Money-Market Funds Hit $7T Milestone, Driven by Rate Cut

Nov 14, 2024, 02:37 PM

U.S. money-market funds have surpassed $7 trillion in assets under management for the first time, according to Crane Data. This milestone marks a significant increase in popularity among investors, with assets jumping by $91.4 billion in the last week to reach $7.001 trillion. The surge in assets follows the Federal Reserve's recent 25 basis point rate cut, contributing to a year-to-date increase of $709.4 billion, or 11.3%.