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Federal Reserve Holds Fed Funds at Zero to 0.25 Bps; Cash Looks Like a Loser
Federal Reserve Chairman Jerome Powell has ended 2020 with all sorts of dovish, benign language, holding monetary policy as easy as possible. He isn’t forecasting any rate hikes before 2023, with only one Fed governor suggesting... Read →
Image Courtesy: ABC News
The Federal Reserve and Treasury Secretary Janet Yellen Should Consider an Emergency Fed Funds Hike - Maybe Even 50 BPS
Now that we are reaching the end of Jay Powell’s tenure as Chairman of the Federal Reserve, it is fair to say that the man has strayed from his pre-chairmanship policy positions when he had emphasized using Fed policy to promote price... Read →
Image Copyright: Emory University
Avoid Rates from NeoBanks and Fintechs that Look Too Good to Be True
Rates on savings products and CD products are incredibly low and have been for several months now. These are the times when people may be apt to fall for scams and take unnecessary risks. Don’t do it. I made this same warning in... Read →
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5 Reasons Why You Should Never Ever Buy A Structured Note
Morgan Stanley, Goldman Sachs and second-tier full service brokerages make a real market in structured notes. So-called "structured notes" are intricate products that carry the possibility of earning a much higher interest rate... Read →
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It is Probably Not the Time to Rush Into CDs
As interest rates have come down dramatically, following the Fed’s emergency response to the virus, savings and money market rates have become very unappetizing. As of this writing, all major online banks have dropped their online... Read →
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Federal Reserve Leaves Fed Funds Rate to Zero to 0.25%, Says Course of the Economy Depends on the Virus
The Federal Reserve unanimously voted to leave interest rates unchanged when it concluded its two-day meeting today. The Fed funds rate remains at a target of zero to 0.25 percent. The Fed again signaled that it is prepared to keep... Read →
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Maximizing Interest On Savings Remains Important In a Low Rate Environment
We’ve seen an incredible fall in interest rates over the last 12 months. Bowing to political pressure, Fed Chair Jerome Powell began cutting interest rates on August 1, 2019 from a target rate of 2.25% to 2.50% and continued... Read →
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5 Things to Consider As Savings, Money Market and Short-Term CD Rates Collapse
We are receiving multiple emails every day from BestCashCow's readers who are furious about the pace of falling savings rates, money market rates and short-term CD rates. While we are the most comprehensive and up-to-date source of... Read →
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Federal Reserve Has No Plans to Raise Interest Rates Any Time Soon
The Federal Reserve has left the Fed Funds rate at zero to 0.25%, and projected no plans to raise interest rates through 2022. The good news is that it is still not considering negative interest rates in the US. It is projecting a... Read →
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Savings Accounts May or May Not Be the Best Place to Be Right Now
Following the stock market’s incredible collapse in March and subsequent recovery, my inbox has been inundated with emails from readers writing to tell me that they are now 90% to even 100% in cash. These emails come from people... Read →
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Morgan Stanley Shows Its True Colors During COVID-19 Pandemic
I had been a customer of Smith Barney for as long as I can remember, even after it merged into Morgan Stanley in 2011. Smith Barney was always an outstanding institution to do business with. They understood that the client always came... Read →
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American Express Platinum Card – The Greatest Opportunity Ever or Time for a Pause?
For years, the Amex Platinum card has been one of the most premium travel rewards credit cards accessible without an invitation. The Platinum card has offered access, exclusivity, privileges and protections to those customers willing to... Read →
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COVID-19 / Coronavirus Additional Cardholder Benefits for Travel Rewards Credit Cards
Chase, Amex and Citibank have announced the supplemental benefits for holders of their travel rewards cards. They are as follows: Chase Chase Sapphire Reserve and Chase Sapphire Preferred The Chase Sapphire Reserve card will earn... Read →
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An Obvious and Certain Way to End the COVID-19 Crisis Quickly
There is a certain way to solve the current health crisis, and it is right in front of us. Here in New York, 60% of the population is roaming around with self-made masks or cheap masks that they bought on Amazon covering their faces. ... Read →
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