Investors Are Holding $3 Trillion in Cash. Money Managers Aren’t Happy.
P.M. Edition for Aug. 14. Money managers have a problem: Clients are holding near-record amounts in cash—by one estimate more than $3 trillion. Miriam Gottfried, a reporter and co-host of WSJ’s Take On the Week podcast, explains why this is happening and what financial planners are pushing their clients to do instead. Plus, two pieces of data—July retail sales and the preliminary August reading of the University of Michigan’s consumer sentiment survey—came in lower than expected. WSJ economics reporter Matt Grossman says that is painting a picture of a weaker U.S. economy. And AI slop is…
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