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Why Would the Federal Reserve Lower Interest Rates Now?
Market expectations as we began 2024 were that the Fed would lower interest rates several times this year (beginning early in the year). Instead, inflation measures for January and February were elevated and the Fed has maintained the... Read →Some Common Misperceptions About FDIC Insurance
I speak with lots of people from many walks of life about the US banking system, about the safety of banks and deposit protection. Virtually everyone is generally familiar with FDIC insurance. Federal Deposit Insurance... Read →New FDIC Rules for Trust Accounts Begin Today
The FDIC has implemented new coverage rules that take effect today and only affect trusts accounts that have over $250,000 deposited at a single bank. FDIC rules had previously permitted a single trust account (such as a payable on death... Read →Adding a Financial Advisor is Always a Bad Idea, But Especially Now
Unless you are ultra-wealthy, the idea that you or anyone needs a financial advisor is completely obsolete. It is so Twentieth Century. Online banks make both equity and debt markets complete accessible, usually enabling you to trade for... Read →Interest Rates Are Headed Down Later in 2024, But Your Savings Account Interest Rate Should Not Have Fallen Yet
At the Fed’s March 2024 meeting Jerome Powell reaffirmed that the Fed is not cutting interest rates until it has further information and continued to guide towards three quarter-point cuts in the Fed Funds rate before the end of... Read →The Federal Reserve End March 2024 Meeting Again Holds Interest Rates at 5.25-5.50% Target
The Federal Reserve ended its March meeting leaving interest rates at their current target. The members unanimously indicated that they anticipate three quarter-point rate cuts before the end of 2024. Given that January and February... Read →Federal Reserve Maintains Rates at 5.25% to 5.50% Target, Refuses to Guide When It May Cut
The Fed ended its January 2024 FOMC meeting by declining to specify when it may begin lowering the Fed Funds target rate.
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