Articles
Selected category: Savings
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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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How to Earn More On Your Cash In 2023
While the rate environment is dramatically different now, the most important piece of advice that I can give as we enter 2023 is the same as that which I would have given in 2022, 2021, or 2020. Get your cash out of non-competitive account.... Read →
Image Copyright: High Line
Fed Funds Rate Raised 50 Basis Points to A 4.25% - 4.50% Target; 5.10% Is the New Median Target
The Federal Reserve moved to raise the Fed Funds rate by 50 basis points to a target of 4.25% to 4.50%. The move was well telegraphed by the Fed and completely anticipated by the markets. The move follows four consecutive 75 basis point... Read →
Surprising That So Many Americans Do Not Know How Much They Can Earn On Cash And Short-Term Deposits
I speak to lots of folks every day in my work and in my travels. These people are all very sophisticated – they are lawyers, doctors, engineers and other professionals. It has already been four months since the interest rate... Read →
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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 moves late to get a... Read →
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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 rate increase as the... Read →
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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 →
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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 point increase... Read →
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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 Fed is pulling trillions... Read →
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’s statement... Read →
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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 years ago,... Read →
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 financial institutions have taken,... Read →
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