Rates Too Low (Revised) Created by m.moebs on 1/15/2024 1:30:24 PM Do you want to lose those stimulus funds your savers have horded?
Money Market Mutual Funds are taking them away to the tune $767 Billion in 2023!
You can stop this with just one account – read this Moebs report to learn how.
Semper, Mike
Stimulus Funds Leaving because Checking Rates Not High Enough
“Funds Moving from Insured Transactions to Uninsured Deposits.”
Michael Moebs, Economist & Chair of Moebs $ervices, LLC (M$) a Private Financial Service Research Firm.
Lake Forest IL (January 15, 2024) Recent M$ surveys of 3,618 financial institutions (FIs) show money is leaving depositories and going to Wall Street Money Market Mutual Funds (MMMFs). Why?
“The banks, credit unions, thrifts, and fintechs are not paying enough on interest checking, savings, or CDs and even not high enough on uninsured deposits greater than $250,000,” states Moebs. “It’s like these financial depositories want to lose the funds!”
2023 to 2022 balance changes: MMMF up 25.4%, Insured Saving down 4.4%, & Checking down 2.5%. Non-Interest checking is up 0.4% while interest checking is down 11.6%.
Interest checking is key.
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