MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, February 11, 2010 Money Funds, the Fed Wants You Less than a year and a half after the federal government stepped in to prop up the money market fund industry, the Federal Reserve may be reaching out to those same funds for help for a different purpose. Bloomberg's Christopher Condon and Craig Torres report that the central bank "is in talks with money-market mutual funds on agreements to help drain as much as $1 trillion from the financial system as policy makers prepare for the first interest-rate increase since 2006." Bloomberg did not reveal the specifics of the discussions, though the wire service expects that money funds will jump on the opportunity. "The option of going with the Fed and the government -- it takes away part of the risk," Deborah Cunningham, chief investment officer at money fund giant Federated Investors (which boasts $318 billion in money fund assets). Printed from: MFWire.com/story.asp?s=24148 Copyright 2010, InvestmentWires, Inc. All Rights Reserved |