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IWall St. JournalI picks up CUNA comment on market
NEW YORK (12/26/08)--The Wall Street Journal has picked up an article about the effects of the Federal Reserve’s rate cut on money-market funds. The article includes a comment by a Credit Union National Association (CUNA) economist. The Journal published the item on Monday. It originated with Dow Jones Newswires. In it CUNA senior economist Mike Schenk said other funds are nervous about breaking the buck. “They’re staying short term and avoiding credit risks. That’s driving yields down” beyond the effect of the last week’s Fed’s rate cut, he said. News Now reported on the original article last week.
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