Fed Rate Cut Will Hurt Your Savings Account Rates
The Fed Rate Cut Will Hurt Your Savings Account Rates, but It Comes With a Huge Upside
Savings account rates will fall further, but there are benefits on the way too. Here's what you need to know about the changes coming to your bank.
Where should you stash your savings after the Fed rate cut?
For example, "several banks are offering high-yield savings accounts with APYs of 4.85%," which, while "down from a peak of 5% or more prior to the rate cut" is still a "relatively robust offer," said CBS News.
Despite a Fed Rate Cut, the Top Savings Accounts Are Holding Their Ground
The Federal Reserve cut interest rates by a sizable half percentage point last week. But the top savings account rate in the country is holding its ground.
Federal officials to cut interest rates by half-percent. What it means for Kentuckians
Some forecasters expect the Fed to cut interest rates by a quarter-point Wednesday. Most, however, expect a half-point reduction. The CME FedWatch forecast tracker favored a half-point cut by a 55-45 margin at midday. (Earlier Wednesday, forecasters rated the probability of a half-point reduction even higher.)
How the Fed's Interest Rate Cut Could Affect Military Families
From deployments to frequent moves and everything in between, the military experience doesn't always directly match the civilian experience.
If the Fed is truly data-dependent, it wouldn't have cut interest rate in September: Strategist
Komal Sri-kumar of Sri-Kumar Global Strategies says the labor market data and inflation figures suggest the Fed shouldn't have cut the interest rates in the September meeting.
Another big Fed interest rate cut coming? One economist says yes
Plus the week included a stop in Detroit by Lael Brainard, the director of the National Economic Council, who spoke to the Detroit Economic Club.
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