As many of you have already noticed, yesterday, ING Direct dropped its interest rates in response to the Fed’s drop of the interest rate. I’m glad I got that CD started before the rates dropped! Savings accounts dropped from 3.0% to 2.75% (oh how I miss the days of 5%+ interest), and CDs are also [...]
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So as I’m sure everyone has heard or read, the Federal Reserve Board again cut rates in an attempt to stop the current economic downslide. From what I’ve read, it sounds like a number of analysts believe that we are officially in a recession. I haven’t decided if this means I will be [...] The Fed has cut rates again. Interest rates were cut by 3/4ths a point. I get that this is supposed to help the economy, but on a personal note, what is this going to do to my high yield savings accounts? Off to look into putting more money into a CD. Today, Ben Bernanke “signaled a readiness to keep on lowering a key interest rate to shore things up.” Today’s announcement caused stocks to drop in response as well.I’m not sure what I think at this point. From a personal standpoint, it just means that the interest rates on my savings accounts will drop yet again, and [...] |
 
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