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Edit Update. Stocks hold steady as Fed’s rate cut arrives. ... Today’s the day: The Federal Reserve is about to announce what it decided to do with interest rates at its November meeting.
The Reserve Primary Fund was the original money market fund, created in 1970 by Bruce R. Bent and Henry B. R. Brown and managed by Reserve Management Company. At its peak it held more than $60 billion in assets. [ 1 ]
The next Federal Reserve meeting will be held from Nov. 6 through 7. Your wallet, explained. Sign up for USA TODAY's Daily Money newsletter. Federal Reserve 2024 Meeting Schedule. Jan. 30–31 ...
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Bruce Roger Bent (born May 25, 1937) is an American businessman credited with inventing the world's first money market fund, the Reserve Fund, with Henry B. R. Brown in 1970. Bent and Brown created an organizational structure by which investors could pool cash to gain access to the market for short-term money obligations.
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A primary dealer is a bank or securities broker-dealer that may trade directly with the Federal Reserve System of the United States. [38] They are required to make bids or offers when the Fed conducts open market operations , provide information to the Fed's open market trading desk, and to participate actively in U.S. Treasury securities ...
Henry Bedinger Rust Brown (February 13, 1926 – August 11, 2008) was an American financial consultant known for inventing the world's first money market fund, the Reserve Fund, with Bruce R. Bent in 1970. [1]