The New York Times writes, "A Simple Way to Benefit From Rising Rates: Buy Money Market Funds." The Jeff Sommer column states, "Rising interest rates have wreaked havoc this year in financial markets. Yet they are an unambiguous boon in one unheralded arena: money market funds, where the higher rates almost immediately funnel more money to investors without major complications. This is a big exception to the other major effects of rising rates, which have made plenty of negative headlines because they are a drag on the economy, a burden for people seeking mortgages and a punishing hurdle for stocks. In the bond market, rising rates are a complicated, head-spinning fact of life, setting off widespread losses, though they also promise better returns in the years ahead, as I noted last week. In comparison, money market funds are blessedly simple. If you're holding cash in them or are thinking of doing so, higher interest rates are something to celebrate right now." It explains, "That's because money market funds closely follow short-term rate shifts by the Federal Reserve. On Sept. 16, the Federal Reserve raised its short-term policy rate, the Fed funds rate, one quarter of a percentage point, to a range of 3.75 to 4 percent. Money market rates began moving higher almost immediately. That said, they didn't jump a quarter point overnight, as the Fed funds rate did. Money market funds are invested in short-term securities like Treasury bills, and it now takes about 36 days for all of these holdings to mature and be completely replaced with higher-yielding investments, according to Crane Data, an independent financial market research firm. So …