Articles
Selected category: Savings
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Do US Treasury Bonds Serve a Purpose For Depositors?
With the recent and pronounced move in the Treasury curve, there has been a lot of discussion in the mainstream financial media suggesting that depositors look to US Treasury bonds. The simple reality is that short-term US Treasury bonds... Read →
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Federal Reserve Holds At 5.25% to 5.50% Target and Says Inflation has Eased
Today's Fed announcement and Chairman Jerome Powell’s press conference marked the Fed’s first acknowledgement that inflation is more contained. After having been on hold for four of the last five meetings, the Federal... Read →
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CapitalOne Sued for Deception Over 360 Savings Rate versus 360 Performance Savings Rate
A lawsuit has been filed by customers of CapitalOne Bank alleging that the bank engaged in deceptive tactics with its 360 Savings customer base in 2022 and 2023. The plaintiffs assert that when CapitalOne began offering the 360 Performance... Read →
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Federal Reserve Holds Fed Funds at a 5.25% to 5.50% Target; Still May Not Be Done
The Federal Reserve Open Markets Committee has concluded its October 31 - November 1 meeting, and it voted unanimously to hold interest rate unchanged at 5.25% to 5.50%. The Fed's statement indicates that, while this is its second... Read →
Jerome Powell's Speech at Economic Club of New York Indicated Fed May Not Be Done
Jerome Powell gave an interesting speech in front of the Economic Club of New York earlier today. I think that there are at least three main takeaways from this speech that depositors need to consider. First, the Fed may not be done... Read →
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Fed Concludes September 2023 Meeting By Holding Target Fed Funds Rate at 5.25 to 5.50%, As Expected
The Federal Reserve concluded its September 2023 meeting today, holding the Fed Funds rate at its current 5.25% to 5.50% target. The target rate remains at a 22 year high. Fed Chair Jerome Powell did not declare victory in the war on... Read →
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Inflation Be Damned, Lower Interest Rates May Be on the Way in 2024
The Fed has moved vigorously to try to reign in inflation in 2022 and 2023. After 15 years of low interest rates that have fueled dramatic US economic growth, Chairman Powell and the Fed have acted aggressively to move the Fed funds target... Read →
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3 Novel Approaches to Earning Over 5% on Your Deposit Accounts
It isn’t hard to earn 5% on savings today. There are tons of online banks with savings and money market offers at or over that level. You can also find local banks and credit unions that are equally competitive. Compare online... Read →
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Federal Reserve Raises Fed Funds Rate to A 5.25% to 5.50% Target
The Federal Reserve has raised the Fed Funds target rate to 5.25% to 5.50% after a much anticipated quarter point raise. This is the highest Fed target rate in 22 years. The Federal Reserve had paused following its June meeting, but... Read →
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Federal Reserve Ends June 2023 Meeting With a Pause At 5 to 5.25%; Likely to Continue Raising
Today's FOMC statement says that the Fed is holding its target Fed Funds rate at 5% to 5.25%. The decision was unanimous among voting members. While today's action marks the first Federal Reserve meeting in this cycle to end... Read →
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The Federal Reserve’s 10th Hike in the 2022-2023 Cycle: Fed Funds Target is Now 5.00% to 5.25%
The Federal Reserve has raised its benchmark Fed Funds target to a 5.00% to 5.25% target at its May meeting that concluded today. Today’s move marks the Fed’s 10th hike since the beginning of 2022 at a 0 to 0.25% target, as the... Read →
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Federal Reserve Moves Fed Funds Rate to 4.75% to 5.00% for Its 9th Hike
The Federal Reserve acted today to increase the Fed Funds rate to a target of 4.75% to 5.00%, and said that additional policy firming may be appropriate. Many observers wanted the Fed to suspend raising rates, in light of the collapse... Read →
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Full Bailout of Silicon Valley Bank and Signature Bank Depositors Leaves Uncertainty About FDIC Limits
The FDIC’s and Federal Reserve’s decision to cover fully deposits at both Silicon Valley Bank (SVB) Bank and Signature Bank leaves some uncertainty about whether banks’ deposits are fully insured above $250,000 per... Read →
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Fed Funds Rate Raised 25 Basis Points to A 4.50% - 4.75% Target, Says It Still Sees Need for “Ongoing Increases”
The Federal Reserve has raised the Fed Funds target rate by 25 basis points to a target of 4.50% to 4.75%. Like the Fed’s six moves in 2022, today’s Fed move was very well telegraphed by Chairman Jay Powell. However, unlike... Read →
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