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Selected category: Savings
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 →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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