WASHINGTON (AP) — Top regulators pledged Friday to push reforms in a key corner of U.S. financial markets that the Federal Reserve and Treasury had to rush to support after it was roiled during the coronavirus outbreak in the spring of 2020.
WASHINGTON — Top regulators pledged Friday to push reforms in a key corner of U.S. financial markets that the Federal Reserve and Treasury had to rush to support after it was roiled during the coronavirus outbreak in the spring of 2020. Members of the Financial Stability Oversight Council discussed the reforms aimed at the so-called short-term funding markets, which include money market mutual funds holding trillions of dollars. The oversight council is an interagency group headed by Treasury Secretary Janet Yellen, who said the 2020 crisis prompted “extreme policy interventions” by the Federal Reserve and Treasury to restore order in the market.
