Articles
Selected category: Savings
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The Federal Reserve Raises Fed Funds Rate to 2.25% to 2.50%, Indicates 2019 Will Be Slower
The Federal Reserve, acting today in its final 2018 meeting, voted to raise the Fed Funds rate by 25 basis points. The Fed funds target rate is now 2.25% to 2.50%. This hike represents the fourth hike of 2018, and since Jerome Powell... Read →
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Robinhood Offering 3% APY Savings & Checking in Bold Shot Across the Bow Of Established Banks, but No FDIC Insurance
As of this morning, Robinhood is offering a 3% APY savings & checking rate on its website. The account is advertised as being completely without fees and providing access to 75,000 ATMs. In an earlier article, we suggested that... Read →
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In Spite of Uncertainty, Savings and CD Rates Are Rising into December 2018 FOMC Meeting
The last couple of weeks have been fraught with uncertainty in global markets. In the US, we ended November with Fed Chairman Jay Powell moving to appease a President in a speech before the NY Economic Club by suggesting that a... Read →
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No Need to Rush Into Neo-Banks
Unlike manufacturers, banks don’t make things. Unlike retailers, banks don’t sell things. Banks make money in three ways - the fees they charge for services, the interest they charge on the loans they make, and the income they... Read →
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December 2018 Update – Five Nationally Available Online Savings And CD Accounts that Recently Raised their Rates
Savings and CD rates continued to firm in November. And, while much was made in the last few days concerning Fed Chairman Jay Powell’s unprecedented equivocation to presidential harassment, the Fed will likely raise the Fed Funds... Read →
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Money Is On Sale
If you turn on the TV, open the Sunday newspaper, or log on to anything, you’ll see that while the holiday season is about family and friends, it is also about savings money and getting the best deals (when spending money). What is... Read →
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Federal Reserve Chairman Jerome Powell Bows to President Trump, Setting Dangerous Precedent
Jerome Powell in his speech this morning at the Economic Club of New York stated that the Federal Reserve is “just below” its neutral rate. The Federal Reserve is poised to raise the Fed Funds rate by 25 basis points to 2.25%... Read →
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Ray Dalio’s Advice is Not For You
Ray Dalio is a Greenwich-based hedge fund manager. I don’t know Ray, but by all accounts he is a very successful operator with excellent performance and a smart guy. Dalio has recently been playing his hand at making far out... Read →
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A Lesson for your Kids about Math and Money
It’s very hard to figure out when and how to discuss money with your children. It’s almost as difficult, surprisingly, as talking with them about sex. But there is an easy way, one that also gives them at the same time an... Read →
BestCashCow's Best Bets in Online Savings and Money Market Accounts for 2019
The Federal Reserve moved in September 2018 to a 2 – 2.25% Fed Funds rate, and savings and money market rates are now firmly above 2%. Interest rates are poised to go up again in December 2018. Unless Trump fires Jay Powell, the... Read →
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November 2018 Update – Five Nationally Available Online Savings And CD Accounts to Consider
Online savings and CD rates rose in October. We continue to favor savings rates over CD rates. It remains likely that the Federal Reserve will raise the Fed Funds rate from its current 2.00 – 2.25% Fed Funds rate to a 2.25% - 2.50%... Read →
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No Penalty CDs May Offer An Easy Way to Boost to Your Savings Rates
Here at BestCashCow, we have been a fan of the No Penalty Certificate of Deposit since Ally began offering it years ago. It ordinarily offers depositors a slight improvement over a comparable savings rate at the same online bank. Since... Read →
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Chase Unveils Sapphire Banking; It is Worth a Look for Those with $75,000
Here at BestCashCow, we’ve always been big proponents of earning the highest possible interest on your cash accounts (savings, CDs, checking). We are also big proponents of maximizing your credit card travel rewards by using the... Read →
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Finally Online Banks Are Highlighting Low Rates At Money Center Banks
One of the most amazing things over the last years has been the huge difference between interest that could be earned from savings and CDs in online banks as compared with that earned at the major brick-and-mortar banks (Chase, Bank of... Read →
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