Articles
Selected category: Savings
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 →
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 moves late to get a... Read →
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 rate increase as the... Read →
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 →
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 point increase... Read →
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 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 →
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 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 →
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 been about as wrong on... Read →
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 memories of 2001 and 2008... Read →
Image Copyright: BestCashCow
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 →
Image Copyright: BestCashCow
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 →
Image Copyright: BestCashCow