Moreover, to the extent that the affected institutions have economic functions other than helping clients economize on money balances (for example, if some money market mutual funds have a comparative advantage in lending to commercial paper issuers), there is scope for repricing that will allow these services to continue to be offered.
When prices are always in a state of flux, it is hard to make out whether a particular price change is signalling a change in relative scarcity or whether it is simply part of an inflationary process where all prices keep on rising. The uncertainties that inflation creates make the problem worse.