MONEY MARKET MUTUAL FUNDS: Pandemic Revealed Unresolved Vulnerabilities.

The article presents the U.S. Government Accountability Office's review of reforms implemented by the U.S. Securities and Exchange Commission in its money market mutual fund (MMF) rules designed to reduce run risk at MMFs exposed by the 2007-2009 financial crisis. Topics discussed include the vulnerability of certain MMFs to runs as highlighted by the COVID-19 pandemic, and evidences showing the effectiveness of the reforms during the pandemic.