Post #1716 by Timer321 on the US Policy board

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The biggest give away in history.

Yes, money market funds (MMFs) can participate in the Federal Reserve’s Overnight Reverse Repurchase (ON RRP) facility as a place to temporarily park cash and earn interest, which is a core function of these low-risk funds. MMFs are eligible counterparties in the RRP market, using the facility to deposit funds with the Fed in exchange for short-term repurchase of government securities, effectively lending cash to the central bank rather than to private financial institutions.

Those are the private institutions.

No wonder young people in their 20s and 30s can have excellent jobs, but can't afford a home.

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