Since interest rates have risen in the past two years, money market funds have become more appealing to investors. Money market funds, which are invested in short-term, safe securities, are mutual funds that closely track the Federal Reserve’s benchmark rate. With interest rates at a more than 20-year high, some money market funds offer yields of around 5%.
Before you invest, let’s break down what you need to know to determine whether they’re right for you.
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