Articles
Selected category: Savings
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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 memories of 2001 and 2008... Read →
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Federal Reserve Announces Slow Tapering, Fails to Provide Guidance on Raising Rates, Causes Loss of Purchasing Power for Savers
The Federal Reserve has tapered its bond buying, beginning to contract its $120 billion monthly bond buying purchases that propped up the economy after COVID-19 struck in March 2020. The bond buying will be decreasing by about $15 billion... Read →
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Bask Bank Launches New Online Savings Account Paying 0.60% APY, but There is a Catch
Bask Bank, a division of Texas Capital Bank, has launched a new online savings account. The account, called an Interest Savings Account, is paying 0.60% APY. The rate is clearly among the best online savings rate available at the moment... Read →
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What I Still Remember 20 Years After September 11, 2001
I was not in New York on 9-11. I was living in London at the time and I was in my office. I remember a woman coming down the hall and saying: “Aren’t you from New York?” and then telling me that the World Trade Center... Read →
Why It Might Not be Such A Bad Idea to Earn 0.40% On Your Money Right Now
As I write, in July 2021, we are living in a strange time. We are facing extraordinary risks to our democracy in the US, risks to our health as COVID-19 variants appear, and risks to our environment as it becomes increasingly clear that the... Read →
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Fed Leaves Fed Funds Target Rate at 0 to 0.25%, but Pencils In Two Hikes for 2023
The Federal Reserve today continued with its current rate stance and its current bond buying program, but is now indicating that it will back away from these easy-money policies in 2023 as inflation surges and growth accelerates. While... Read →
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Major Banks are Just Awash in Cash
The Wall Street Journal has an interesting article today which highlights how banks have become so completely awash in deposits that they are discouraging major companies from continuing to increase their cash deposits. It notes that CFOs... Read →
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An Entirely New Risk to Applying for Online Savings Accounts
BestCashCow.com has been monitoring the best savings rates nationwide for over 15 years, and for the first 14 plus, the situation for the consumer was very straightforward. You’d check to see what the best savings rate on... Read →
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Federal Reserve Ends March Meeting Without Any Plans to Raise Interest Rates in 2021
The Federal Reserve concluded its 2-day March meeting today with no change in the Fed funds. The median forecast is for no change in interest rates through 2023 with 4 Fed officials seeing rate hikes in 2022 (up from 1 previously), and 7... Read →
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Bask Bank Is A Very Compelling Option For Anyone Looking to Travel in the Post-COVID-19 World
We are still in the midst of an horrific pandemic but we have vaccines going in arms now and that is a good time to look at how and when you are going to travel when this pandemic ends and it becomes easier to do so. I last wrote in some... Read →
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Federal Reserve Holds Fed Funds at Zero to 0.25 Bps; Cash Looks Like a Loser
Federal Reserve Chairman Jerome Powell has ended 2020 with all sorts of dovish, benign language, holding monetary policy as easy as possible. He isn’t forecasting any rate hikes before 2023, with only one Fed governor suggesting... Read →
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Avoid Rates from NeoBanks and Fintechs that Look Too Good to Be True
Rates on savings products and CD products are incredibly low and have been for several months now. These are the times when people may be apt to fall for scams and take unnecessary risks. Don’t do it. I made this same warning in... Read →
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It is Probably Not the Time to Rush Into CDs
As interest rates have come down dramatically, following the Fed’s emergency response to the virus, savings and money market rates have become very unappetizing. As of this writing, all major online banks have dropped their online... Read →
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Federal Reserve Leaves Fed Funds Rate to Zero to 0.25%, Says Course of the Economy Depends on the Virus
The Federal Reserve unanimously voted to leave interest rates unchanged when it concluded its two-day meeting today. The Fed funds rate remains at a target of zero to 0.25 percent. The Fed again signaled that it is prepared to keep... Read →
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