by Bill McBride on 12/16/2008 08:44:00 PM
Tuesday, December 16, 2008
Just checked some money market funds, and for a few of them the expenses are now greater than the yield - so you'd do better with a mattress.
MarketWatch: Fed to consumers: Hold tight quotes Dean Baker co-director of the Center for Economic and Policy Research:
"I'm a little surprised [the Fed] decided to take it all the way down, it isn't really going to have any substantial impact. The other reason I was surprised is that it could create an awkward situation for money market funds where they will have to give people negative returns."I wonder if the funds will lower their expenses?