Federal Reserve press conference, 2021-07-28 — Chair Jerome Powell

Question (Michael Derby, Wall Street Journal): And you don’t see any issues with, like, disaggregating, you know, markets from, you know, investing in private money market securities? You know, like, the idea that the Fed’s footprint in money markets is getting too big, you don’t see any issues there?
Answer: Not, not really. Not at this point. I mean, money markets, private money market funds are, are choosing to, to invest because the rates are attractive. At some point, the rates will not be so attractive as, as the whole rate cluster normalizes, and, and you’ll see it shrink back down.