The $7 Trillion-Plus Pile in US Money-Market Funds Keeps Growing

The rush of cash into the US money-market funds is showing few signs of slowing as it secured a record $7.4 trillion in assets.

Investors have poured more than $320 billion into the funds so far this year, according to Crane Data LLC, making it one of the biggest benefactors of the Federal Reserve’s current monetary policy. That’s something of a surprise for those on Wall Street who’d gone into 2025 assuming officials would lower interest rates and sap the attractive returns offered by the industry.

“$7 trillion can easily be $7.5 trillion in 2025,” said Deborah Cunningham, ...