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October 2019 Update - Hard to Get Excited About CDs and Even Harder to Get Excited About Savings

This time last year, everyone was getting very excited about savings rates moving well above 2%, about 1-year CDs at 2.85% and above, and 5-year CDs at 3.50%.   Those with cash were finally finding risk-free opportunities for t... Read →

The Federal Reserve Lowers The Fed Funds Rate by 25 bps to a 1.75% to 2.00% Target

The Federal Reserve acted today to lower the target Fed Funds rate by a quarter point.   This follows the July 31 quarter point reduction of the rate.   The Fed Funds rate had stood at a post-crisis high of 2.25% to 2... Read →

Hot Money - A Defense Image Courtesy: Pexels

Hot Money - A Defense

A well-known online bank recently dropped its savings rate by 15 basis points, and that action prompted me to close my account there and move the entire balance into... Read →

Trump Is Preparing to Fire Jay Powell and Replace Him with Jim Cramer Image Courtesy: Wikipedia

Trump Is Preparing to Fire Jay Powell and Replace Him with Jim Cramer

Trump tweeted at 8:22 AM this morning:

"I agree with @jimcramer, the Fed should lower rates. They were WAY too early to raise, and Way too late to cut - and big dose quantit... Read →

Trump’s Obsession with Dorian and Alabama Might be a Clever Ploy and Not Narcissism Image Courtesy: CNN

Trump’s Obsession with Dorian and Alabama Might be a Clever Ploy and Not Narcissism

Donald Trump continues to obfuscate in the interest of achieving his goals.   Hurricane Dorian presented him with an opportunity to try and change the narrative.   Rather than simply dismiss a minor gaffe regardi... Read →

Steer Far Away from Long Bonds and Preferred Stock Right Now (and from Anyone Pushing These Securities)

A good friend of mine in money management who I ordinarily think very highly of told me this weekend that he likes the 15-year US Treasury bond.   I’ve also seen this same endorsement of the longer term US Treasuries from... Read →

September 2019 Savings and CD Update – Where to Find Safety

It is the end of the summer and Labor Day is upon us.  It is a nice time of the year.  Unfortunately, conservative savers this year are faced with a dilemma of declining savings rates ahead of a Federal Reserve meeting in Septe... Read →

Be Careful Not to Rush Too Heavily Into Long-Term CDs Here

Interest rates have collapsed over the last several weeks and that may be good news for those interested in remortgaging or Read →

Jeffrey Epstein Did Not Die By Suicide; He was Murdered Image Courtesy: NYS Division of Criminal Justice

Jeffrey Epstein Did Not Die By Suicide; He was Murdered

In this day and age, it is hard to take everything that you see and hear at face value.   That’s true of the news this morning that Jeffrey Epstein died by suicide.

Epstein was being held in a Federal prison in ... Read →

August 2019 Savings and CD Update – Drawing a Line in the Sand Image Courtesy: Pexels

August 2019 Savings and CD Update – Drawing a Line in the Sand

It is August and that means that you should be at the beach.   While you are there, we suggest you draw a line in the sand.  

Last week, the Federal Reserve moved to lower the Fed Funds rate to a range of 2.... Read →

The Hyatt Regency Tokyo Offers Outstanding Redemption Value at 12,000 Points per Night

I recently stayed for three nights at the Hyatt Regency in Tokyo.   The hotel was clearly Hyatt’s flagship property in Japan when built in 1980.   And, while it has seen finer days and the rooms have not been re... Read →

Considering Delta One to Japan? Think Again

I recently flew Delta One from Minneapolis to Tokyo.   While I used to fly Delta all the time to Europe when it dominated routes from Atlanta and New York to Germany, Spain and Moscow, it has not been my airline of choice for m... Read →

Fitness Bank is Offering 3% to Depositors Who Can Record 12,500 Steps a Day

Fitness Bank is a new subsidiary of Georgia-based Affinity Bank and has unveiled a savings offer that will be interesting to some.

The bank aims to encour... Read →

What is Jerome Powell Really Afraid Of? Image Courtesy: The Wall Street Journal

What is Jerome Powell Really Afraid Of?

Jerome Powell has been testifying in front of Congress for the last two days.   You have no doubt heard snippets of his testimony on the evening news or in the financial media.   Of note, if Trump calls him to fire hi... Read →

July 2019 Savings and CD Update – Interest Rates Are Falling; How To Continue to Earn A Decent Return on Cash Image Courtesy: Yellowstone-net

July 2019 Savings and CD Update – Interest Rates Are Falling; How To Continue to Earn A Decent Return on Cash

We have experienced a dramatic fall in interest rates in the US and following the Fed’s most recent meeting in June, CD rates greater than 1-year have come in dramatically.   Most recently one-year CD rates and even some ... Read →