Total money market mutual fund assets stood at $1.450 trillion last week. The desire for fast liquidity, low risk, and a steady return has boosted their popularity, experts say.
Meanwhile, Americans' personal income increased 0.5 percent in December, the most in 10 months, the Commerce Department noted. During that same period, personal spending increased 0.8 percent, bolstered by last minute holiday shopping and a rebound in auto sales. The result: a 0.1 percent decline in the personal saving rate for December.