Articles
Selected category: Savings
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An Entirely New Risk to Applying for Online Savings Accounts
BestCashCow.com has been monitoring the best savings rates nationwide for over 15 years, and for the first 14 plus, the situation for the consumer was very straightforward. You’d check to see what the best savings rate on... Read →
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Federal Reserve Ends March Meeting Without Any Plans to Raise Interest Rates in 2021
The Federal Reserve concluded its 2-day March meeting today with no change in the Fed funds. The median forecast is for no change in interest rates through 2023 with 4 Fed officials seeing rate hikes in 2022 (up from 1 previously), and 7... Read →
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Bask Bank Is A Very Compelling Option For Anyone Looking to Travel in the Post-COVID-19 World
We are still in the midst of an horrific pandemic but we have vaccines going in arms now and that is a good time to look at how and when you are going to travel when this pandemic ends and it becomes easier to do so. I last wrote in some... Read →
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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 →
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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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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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Federal Reserve Maintains Fed Funds Rate at 0 to 0.25% and Outlines Further COVID-19 Action
The Federal Reserve has held the Fed Funds target rate constant at zero to 25 basis points today. Chair Jerome Powell indicated that the ongoing COVID-19 public health crisis has weighed heavily on the economic condition of the country. ... Read →
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What Will Happen to Savings and CD Rates If the Federal Reserve Takes the Fed Funds Rate Negative?
There is a lot of concern that the Federal Reserve is running out of bullets in its response to the current Depression. It has already lowered the Fed Funds rates to zero, engaged in extraordinary quantitative easing, and opened up the... Read →
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Some of the Lesser Known Online Banks Have Been too Quick to Slash Rates, Burning Customers
The Federal Reserve made emergency cuts to the Fed Funds rate, taking the benchmark rate to a range of zero to 25 basis points as the COVID-19 crisis hit our shores last month. While the Fed move will cause savings rates to fall over... Read →
Image Kelly Louffler, Courtesy: AP