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Related Tags: Federal reserve, China, Dollar yuan exchange, Fed, Sinking dollar, Cash equivalents, Yuan, Fed rate cut, Larry fine, Chinese yuan, Interest rates, Economy, Dollar.
The Fed today cut rates by .75% of 75 basis points in a bid to shore up the economy. No doubt, Bernanke is hoping the cut will drop rates on mortgages, eliminating some of the reset pain, as well...
I've learned that you can never tell what an unintended consequence of an action will be. Wall Street is partying now but there are plenty of ways this rate cut could go bad. Here's one.
The Fed rate cut sent Wall Street soaring but its not clear it will help with some of the economies more fundamental problems.
In an article dated August 31, 2007 Blackrock's Larry Fink said the Fed would be foolish to cut rates. I wonder what he would say today.
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Type
|
Top APY/Rate
|
Institution
|
|
2.25%
|
Everbank
|
|
|
0.35%
|
Flex Funds
|
|
|
1.25%
|
Country Bank for Savings
|
|
|
1.10%
|
TotalBank
|
|
|
2.00%
|
First City Bank
|
|
|
2.15%
|
USAA Federal Savings Bank
|
|
|
2.30%
|
Atlantic Coast Bank / First City Bank
|
|
|
2.81%
|
USAA Federal Savings Bank
|
|
3.01% |
USAA Federal Savings Bank |
|
|
3.41%
|
USAA Federal Savings Bank
|
|
|
3.36%
|
US Treasury
|
|
4.30% |
Royal Bank of Missouri |
|
2.00% |
Alliant CU |
|
1.51% |
Wings Financial CU |
|
|
1.76%
|
Wings Financial CU
|
|
|
2.10%
|
Alliant CU
|
|
|
2.53%
|
Wings Financial CU
|
|
|
3.03%
|
Wings Financial CU
|
|
|
0.09%
|
Various brokerages
|
|
|
0.19%
|
Various brokerages
|
|
|
0.92%
|
Various brokerages
|
|
|
2.45%
|
Various brokerages
|
|
|
3.77%
|
Various brokerages
|
See more product and rate information