Federal Reserve official announcements

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.