No One Knows How Messy the Fed Increase Could Get
- Eagle Asset favors Treasuries over credit-linked debt
- Northern Trust ramps up cash; Pimco short-term funds diversify
Business as Usual After Fed Hikes Rates: Carla Harris
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The greatest monetary-easing cycle in the history of the U.S. has left a mind-boggling amount of cash floating around in the economy. Banks hold $2.5 trillion in excess reserves -- money they essentially don’t know what to do with -- at the Federal Reserve.