money-market funds

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Fed Pledges $600B to Keep Money-Market Funds Afloat

Will partner with JPMorgan, lend money to help cover redemptions

(Newser) - The Federal Reserve today unveiled a $600 billion program to finance the purchase of assets from money-market mutual funds, Bloomberg reports. JPMorgan will oversee five special units, which will use money borrowed from the Fed to buy CDs, bank notes, and commercial paper nearing maturity. The program is the Fed’... More »

Where US Consumers Can Turn Now

(Newser) - The failure of the bailout bill to clear the House has American consumers checking their retirement accounts, their wallets, and even their mattresses as they grapple with the implications of the worsening financial situation. With falling oil prices seemingly the only silver lining for the average consumer, MSNBC offers some... More »

2 Stories