Articles
All Articles
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
Democracy is A Winning Idea, but So too is …
I was watching Fareed Zakaria’s interview of Bill Clinton this morning on CNN. Fareed threw Clinton a complete softball when he asked him whether the US was responsible for Russia’s behavior and unlawful war against Ukraine... Read →
Image Copyright: BestCashCow
Warming Slightly to Certificates of Deposit
I advised readers of BestCashCow.com in April to be especially weary of jumping into CDs with interest rates about to rise. I still believe interest rates have a lot further to rise. Even though oil and gas and other commodity prices... 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
Mid-2022 is Just Not the Time to Buy Certificates of Deposit
My inbox is full of two types of emails from readers of BestCashCow and RatesAndInfo.com, a BestCashCow subsidiary. The first is from those who are excited to have found a great CD rate, and the second is from those who are inquiring... Read →
Image Courtesy: Reuters
The Only Person with Balls in Russia (So Far)
Regular readers of my articles will know that I lived in Moscow and practiced tax law there from 1994 to 1996. I also spent time working in Russia and Ukraine in 1990. My first trip to the former Soviet Union came in 1985 and my last... 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
Capital One Venture X is Probably Not a Replacement for Amex Platinum or Chase Sapphire Reserve
Capital One announced the Venture X card last month to great fanfare. They paid the credit card bloggers handsomely to promote it with many of them obliging all too easily and changing the background of their sites to Capital One... Read →
Image Copyright: BestCashCow