Articles

All Articles

Fed Makes Much Anticipated 4th Consecutive 75 Basis Point Move, Bringing Fed Funds Rate to 3.75% to 4.00%, Refines Language Image Copyright: BestCashCow

Fed Makes Much Anticipated 4th Consecutive 75 Basis Point Move, Bringing Fed Funds Rate to 3.75% to 4.00%, Refines Language

The Powell Fed has completed its November meeting with its sixth rate hike of 2022, bringing the Fed Funds rate to almost 4% for the first time in a generation.   The Fed still isn’t finished with rate hikes as it mo... Read →

Federal Reserve Moves Fed Funds Rate to a 3.00% - 3.25% Target Image Copyright: BestCashCow

Federal Reserve Moves Fed Funds Rate to a 3.00% - 3.25% Target

The Federal Reserve has raised the Fed Funds target rate by 75 basis points to a target rate of 3.00% to 3.25%.   This is the highest it has been since 2008.

The rate represents the third successive 75 basis point rat... Read →

Is Your Online Bank Giving You Their Best Savings Rate As Savings Rates Increase? Image Copyright: BestCashCow

Is Your Online Bank Giving You Their Best Savings Rate As Savings Rates Increase?

More than a decade ago, when GMAC Bank had just rebranded as Ally Bank, they ran a series of commercials designed to build the Ally brand around integrity of treating their customers equally, and not giving preferential treatment to new ... Read →

Democracy is A Winning Idea, but So too is … Image Copyright: BestCashCow

Democracy is A Winning Idea, but So too is …

I was watching Fareed Zakaria’s interview of Bill Clinton this morning on CNN.

Fareed threw Clinton a complete softball when he asked him whether the US was responsible for Russia’s behavior and unlawful war against... Read →

Warming Slightly to Certificates of Deposit Image Copyright: BestCashCow

Warming Slightly to Certificates of Deposit

I advised readers of BestCashCow.com in April to be especially weary of jumping into CDs with interest rates about to rise. ... Read →

Fed Funds Rate Raised by 75 bps to a 2.25%-2.50% Target; Savings Rates Should Get Sweeter Image Copyright: BestCashCow

Fed Funds Rate Raised by 75 bps to a 2.25%-2.50% Target; Savings Rates Should Get Sweeter

To absolutely nobody’s surprise, the Federal Reserve has voted unanimously to raise the Fed Funds rate by 75 basis points today, setting a Fed Funds rate target of 2.25% to 2.50%.  The move follows a similar 75 basis poin... Read →

Cash is Trash No More - Federal Reserve Moves Fed Funds Rate Up by 75 Basis Points to A Range of 1.50% - 1.75% Image Copyright: BestCashCow

Cash is Trash No More - Federal Reserve Moves Fed Funds Rate Up by 75 Basis Points to A Range of 1.50% - 1.75%

The Federal Reserve has finally become much more serious about controlling inflation.   Inflation has gotten so hot by any measure, including core CPI, that Jay Powell can no longer keep his head in the sand.   His Fe... Read →

Federal Reserve Moves Fed Funds Rate up By 50 Basis Points to a Fed Funds Target of 0.75% to 1.00% Image Copyright: WSJ

Federal Reserve Moves Fed Funds Rate up By 50 Basis Points to a Fed Funds Target of 0.75% to 1.00%

The Federal Reserve has finally begun to act according to its mandate to maintain price stability, but inflation is already running rampant.  Today’s move is just the beginning of moves that will be necessary.  The Fed&rs... Read →

Mid-2022 is Just Not the Time to Buy Certificates of Deposit Image Copyright: BestCashCow

Mid-2022 is Just Not the Time to Buy Certificates of Deposit

My inbox is full of two types of emails from readers of BestCashCow and RatesAndInfo.com, a BestCashCow subsidiary.

The first is from those who are excited to have found a great CD rat... Read →

The Only Person with Balls in Russia (So Far) Image Courtesy: Reuters

The Only Person with Balls in Russia (So Far)

Regular readers of my articles will know that I lived in Moscow and practiced tax law there from 1994 to 1996.   I also spent time working in Russia and Ukraine in 1990.   My first trip to the former Soviet Union came... Read →

Fed Liftoff Day is Here Image Copyright: BestCashCow

Fed Liftoff Day is Here

The Federal Reserve has raised interest rates by 25 basis points today, moving the Fed funds target rate off of zero to a target of 0.25/0.50.   The target rate had been at zero since COVID-19 arrived on US shores more than two... Read →

Four Steps to Prepare for A Russian Cyberattack on the US Financial System Image Copyright: Moscow Times

Four Steps to Prepare for A Russian Cyberattack on the US Financial System

I practiced law in Moscow in the 1990s.   While there, I learned that Russian law is an oxymoron.   I also learned a lot about Russia and its strengths.  I am certain that in spite every precaution that US financ... Read →

Fed Ends January Meeting Planning to Raise Rates, but Not Until March Image Copyright: BestCashCow

Fed Ends January Meeting Planning to Raise Rates, but Not Until March

The Federal Reserve is going to be raising rates in 2022.  This action is desperately needed to fight inflation.  But, it isn’t ready to act now.

It has been clear that Federal Reserve Chairman Jay Powell has be... Read →

2022 Is Signaling Wealth Preservation Mode Image Copyright: BestCashCow

2022 Is Signaling Wealth Preservation Mode

I am old enough to remember October 1987.   I was a college freshman then and I remember my floormates calling their parents to inquire whether they would be able to stay enrolled in college.

I also have vivid memorie... Read →

Capital One Venture X is Probably Not a Replacement for Amex Platinum or Chase Sapphire Reserve Image Copyright: BestCashCow

Capital One Venture X is Probably Not a Replacement for Amex Platinum or Chase Sapphire Reserve

Capital One announced the Venture X card last month to great fanfare.   They paid the credit card bloggers handsomely to promote it with many of them obliging all too easily and changing the background of their sites to Capital... Read →