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What will be the Federal Reserve's interest rate level by the end of 2024?
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Federal Reserve official announcements
Story
US Money-Market Funds Hit Record $6.76 Trillion, $126 Billion Increase Amid Fed Rate Cuts
Sep 26, 2024, 07:45 PM
Assets in US money-market funds have reached a record high of $6.76 trillion as of Tuesday, according to Crane Data. This increase of $126 billion follows the Federal Reserve's recent jumbo-size rate cut. In the week leading up to September 25, money-market assets hit $6.4 trillion, as reported by the Investment Company Institute (ICI). Despite the beginning of the Fed's rate cutting cycle, investors continue to pour cash into money-market funds, pushing assets under management to unprecedented levels.
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