When you have money parked in a cash market fund that invests in non-U.S. Treasury debt, the Federal Reserve says it is bought your again.

Late Wednesday, the Fed introduced a brand new program that can make loans to monetary establishments that purchase shares in "prime" cash market mutual funds, whose investments embrace company bonds. It is the newest transfer by the Fed to prop up the U.S. monetary system because the fallout from the coronavirus pandemic continues to run roughshod over the financial system. 

"The Fed is doing all it may to verify the system's plumbing is working," stated licensed monetary planner Mike Hennessy, founder and CEO of Harbor Crest Wealth Advisors in Fort Lauderdale, Florida.

"We have to keep away from a state of affairs the place issuers cannot entry liquid short-term capital and traders concern their money may lose worth," stated...