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Related Tags: Federal reserve, China, Interest rates, Dollar, Dollar yuan exchange, Fed, Sinking dollar, Cash equivalents, Yuan, Fed rate cut, Larry fine, Chinese yuan, Economy.
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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BestCashCow provides information on the best CD (certificates of deposit) rates, the best money market rates, the best savings rates, and more - as well as financial information that can help you make better decisions with your money.
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Type
|
Interest Rate
|
Institution
|
|
4.76%
|
EverBank
|
|
|
2.53%
|
Fidelity
|
|
|
3.56%
|
Corus Bank
|
|
|
4.05%
|
Corus Bank
|
|
|
4.50%
|
Washington Mutual
|
|
|
4.45%
|
Geauga Bank
|
|
|
4.81%
|
Discover Bank
|
|
|
4.84%
|
US Treasury
|
|
|
3.50%
|
Federal Home Loan Bank (state and local tax exempt)
|
|
|
3.28%
|
Northrop Grumman FCU
|
|
|
4.06%
|
Melrose CU
|
|
|
4.22%
|
Melrose CU
|
|
|
4.32%
|
Melrose CU
|
|
|
1.83%
|
Various brokerages
|
|
|
2.01%
|
Various brokerages
|
|
|
2.38%
|
Various brokerages
|
|
|
3.10%
|
Various brokerages
|
|
|
3.84%
|
Various brokerages
|
See more product and rate information
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