It’s the shock of the century! Helicopter Ben drops rates to a semi-permanent zero percent and people decide that saving is pointless! Whodathunkit? They then pull cash out of money markets and fling it at anything doing business in China or promising a decent bond yield.
Money Market Funds
In Search of Mythic Beasts
The figure they’re going with these days is $4 trillion on the sidelines. Okey Dokey.