It’s an accounting fiction. Money-market funds are just short-term bond funds. Although the target price for each share is $1, a bond might be at 0.998 cents on the dollar while another is at 1.00123 cents, and it all balances out to $1 per share.
Rates Current as of Tuesday November 20, 2018
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The Federal Reserve is the central banking system for the United States.
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