It’s 2023 and the Federal Reserve just announced a federal funds rate range increase of 0.25%. This is after seven rate increases in 2022. This increase brings the target funds rate range up to 4.5%-4.75%. This increase is smaller than some of the steep changes in 2022, but another increase means rates are at their highest point since 2007, which was the last time the target hit 4.75%. All of the recent rate increases mean loans and credit card balances are more expensive.
Fed Rate Increase Gives Another Boost To Savings Accounts
Nerdwallet, Denver Post: Business
Thu, 02/02/2023 - 12:20pm
Topics: apys that january federal deposit insurance corp shore u.s bureau labor statistics december cpi june more from stay safe when using mobile banking apps bank app features you might be missing out on smart ways teach kids about saving money margarette burnette margarette what fed rate increases savings accounts related articles year s frontier miles easing it s federal reserve savings apy that that s nerdwallet fed a business high-yield rates earn financial time target range higher funds fund emergency months inflation national build highest saved additional high didn deposits balance future grow don compared largest figure earns smaller put banks worth
BING NEWS:
- Why 2025 Will Likely Be Better Than You Expected for Savings and CD Rates
Predicted declines in CD and savings account rates have been dialed back for 2025. Here's how much the latest Fed announcement has changed the rate outlook.
01/3/2025 - 3:04 am | View Link - 13 Easy Ways To Boost Your Savings In 2025 And Beyond
Growing your savings need not be hard. Discover 13 easy and actionable strategies that can help boost your savings for better financial health in 2025 and beyond.
01/2/2025 - 12:59 am | View Link - What Do Lower Interest Rates Mean for Retirees?
"A lower rate may impact an individual’s income generated by those investments and could require them to step outside their risk tolerance to grab more return and keep up with inflation," said Faron ...
12/18/2024 - 7:08 am | View Link - Motor vehicles, online purchases boost US retail sales in November
U.S. retail sales increased more than expected in November amid an acceleration in motor vehicle and online purchases, consistent with strong underlying momentum in the economy as the year winds down.
12/17/2024 - 1:42 am | View Link - Another Fed rate hike is here — should you keep switching savings accounts to chase a higher return?
It doesn't make sense to change your savings account with every rate increase if you're already earning a pretty decent APY or if your balance isn't that large.
12/10/2024 - 2:20 am | View Link - More
Welcome to Wopular
Wopular is an
online newspaper rack,
giving you a summary view of the top headlines from the top news sites.
Senh Duong (Founder)
Wopular,
MWB,
RottenTomatoes
MoviesWithButter : Our Sister Site
- "Expendables 4" Starts Shooting This Fall, Says Randy Couture at the Arnold Sports Festival more
- “Expendables 4” Gets Funding Interest from “Ip Man 3” Financier more
- "Ip Man 3" Distributor Suspected of Box Office Fraud, Parent Company Loses $200M in Market Cap more
- Yen Targets "Ip Man 4" for 2018 Release; Discusses Film with Director, Producer more
- "Ip Man 3" Shatters Expectations with $72M Opening [China Box Office] more