Keep a closer eye on money markets: Fed's Kohn

The recent financial market turmoil has shown that greater attention should be paid to money markets, Donald Kohn, the vice-chairman of the Federal Reserve, says.

"Disruptions to those critical markets have the potential to significantly harm the financial system and the real economy," Kohn says.

"Developments in global financial markets since last summer have underscored that if market participants become concerned about their access to money-market funding, they can pull back from providing

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