The chart of the week highlights the Federal Reserve’s interest rate hikes since 2022 and the resulting increase in money market funds. Money market assets grew from less than $4.75 trillion to about $6.25 trillion, a substantial increase of $1.5 trillion! Investors poured into money markets as interest rates became more attractive. It will be interesting to see how money market asset flows are affected as the Fed begins its expected rate-cutting cycle, likely in September.