Some $40 billion or more entered U.S. money market accounts last month. I believe that set a record. It appears that folks are parking their money to see how this shakes out.
Well, at least Wall Streeters got their bonuses this year before all the hoopla.
I’m no economist, but, in my opinion, a prime rate cut by the Fed isn’t going to help matters. Dumping liquidity into the market will only throw gasoline on the already-smoldering inflationary fire.