🖤 Donations of all sizes power our public service journalism Give Now

People have moved billions from bank accounts to money market funds. What are those?

Apr 5, 2023
This type of mutual fund invests in short-term, low-risk debt. Currently they're earning higher interest than savings accounts.
Depositors have been moving cash into money market mutual funds in search of higher interest income as well as safety because of the shaky condition of some banks.
courtneyk/Getty Images