by Calculated Risk on 12/16/2008 08:44:00 PM

Just checked some money market funds, and for a few of them the expenses are now greater than the yield - so you'd do better with a mattress.

MarketWatch: Fed to consumers: Hold tight quotes Dean Baker co-director of the Center for Economic and Policy Research:

"I'm a little surprised [the Fed] decided to take it all the way down, it isn't really going to have any substantial impact. The other reason I was surprised is that it could create an awkward situation for money market funds where they will have to give people negative returns."

I wonder if the funds will lower their expenses?