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WASHINGTON (AP) A top government financial oversight panel says that the turbulence in financial markets last spring has exposed problems in the operation of money market funds that will need to be corrected before the next crisis hits. The President s Working Group on Financial Markets, led by the Treasury Department, issued a report Tuesday which said that the flight to safety triggered by the coronavirus pandemic last spring pointed to the need for reforms that will make money market funds less vulnerable to investors rushing to withdraw their funds. “During March, money markets experienced significant outflows, forcing Treasury and the Federal Reserve to step in to prevent a destabilizing run,” Deputy Treasury Secretary Justin Muzinich said in a statement accompanying the report.

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