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Federal Reserve Holds the Fed Funds Rate at 2.25% to 2.50% and Suggests It is Done Raising Until 2020
The Federal Reserve acted unanimously today to hold the Fed Funds target rate at 2.25% to 2.50%. Whereas the Fed had previously guided to two raises in 2019, it now indicates that there will be zero. Fed Chair Jerome Powell remains true... Read →
Oh, What a Surprise! Wealthy Americans Spend to Give Their Children an Edge
America is shocked by the discovery of parents trying to influence the outcome of their children’s success in admission decisions at selective colleges. The newspapers and TV coverage have been replete with expressions of disgust at... Read →
Two Sisters Kill Their Demented, Ill Father
Yahoo’s lead news today is about two sisters in their sixties who “murdered” their 85 year old father who had dementia, cancer and multiple other maladies. The thrust of the article is that they would have gone scot free... Read →
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Kyle Bass Says Interest Rates Will Be At Zero in 2020
There are many people who believe that the 2008-2009 financial crisis marked a seismic shift in the interest rate paradigm and that interest rates will never go back to a pre-crisis “normal”. When Jerome Powell became... Read →
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March 2019 Update - 5 Savings and CD Offerings to Check Out
We are pulling through the winter, and savings and CD rates are continuing to firm, but are not moving dramatically higher as the Fed now seems intent to hold the Fed Funds rate at 2.25% to 2.50% until later in the year. Here are 5... Read →
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New York Sends Open Letter to Jeff Bezos Begging Amazon to Reconsider
A little more than 2 weeks after the self-induced disaster at the hands of so-called politicians Jimmy Van Bramer and Michael Gianaris, New York's grown ups are trying to get a hold of things. The New York Times reported last night... Read →
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Amazon and A Simply Disastrous Day for New York City
I have lived in New York for about 22 years and that is long enough to have seen some awful days here. The magnitude and human impact of Amazon’s reversal and departure from Long Island City cannot be compared to some things in... Read →
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Impossible Not to be Inspired by Mark Kelly’s Senate Ad
Mark Kelly is an astronaut and Gabrielle Giffords’ husband. In the years following Gabrielle Giffords’ shooting, he has become a vocal proponent of gun control. He announced this morning that he is running for John... Read →
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The United Kingdom is a Month From a Hard Brexit and It Could be Devastating for the Global Economy
I have been amazed at the US stock market’s ability to move up so dramatically in January and into the first part of February. The US media – even the financial media – has grown tired of reporting on Brexit. Aside... Read →
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BB&T And SunTrust to Merge, But Why?
BB&T and SunTrust Bank announced their merger this morning. The banks are the 12th and 13th largest US banks based on assets and the combined entity will become the sixth largest US bank. (A complete list of the largest banks based... Read →
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February 2019 Update – With the Fed on Hold, Here Are Five Attractive Nationally Available Online Savings And CD Rates
Savings and CD rates continued to firm into the end of 2018. However, as we predicted back in November, Fed Chairman Jay Powell has now fully equivocated as a result of presidential harassment and the Federal Reserve has now held the Fed... Read →
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Stop Waiting for the Big Money Center Banks to Raise their Rates
It has been many years since I co-founded BestCashCow, and I have heard just about every excuse possible for keeping your cash in low interest earning savings and money market accounts, checking accounts and CDs. However, there is a new... Read →
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Davos - Hypocrisy at its Worst
The world’s leaders are meeting again at the Davos World Economic Forum. The media is also there, hungrily running after attendees to get their comments on everything from economic projections, environmental challenges, and political... Read →
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Wake Up Nancy (Be The Adult In Room)
By refusing to give Donald Trump his wall, you are missing a huge win and a major opportunity. No one really gives a damn about the wall. It’s obviously a political chit and a vanity project. But, it is also a huge obstacle to... Read →
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