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Federal Reserve Holds Fed Funds Rate at 2%
The Fed stood pat on rates today, keeping the Fed Funds Rate at 2%, despite widespread turmoil on Wall Street. Weak growth is fighting inflation to a standstill within the Fed. Savings and money market rates and cd rates should remain relatively stable or even trend higher with this announcement.
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Fed Funds Futures Point to Significant Probability of Rate Cut - May Want to Lock in CD Rates
As late as Friday, it looked like a virtual lock that the Fed would keep rates at 2%. But the activity of the last couple of days has dramatically increased the odds the Fed will lower rates. If you are thinking of opening a CD, now may be a good time.
Read →We know the FDIC protects deposits, but what happens if your insurance company goes under? Below is some information.
Read →In this type of environment, we will quickly find out what GE is made of.
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Lehman's Collapse - Markets May Not Fall As Much as You Think
Everyone is predicting a horrible day on Wall Street today and for the next couple of days. I'm not so sure. Here's why. Lehman's stock has already taken its beating. As the chart below shows, Lehman, as well as the other... Read →
Bank of America is Overpaying for Merrill Lynch
I just cannot figure out what they are smoking at Bank of America to pay $44 billion for Merrill.
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Tumultous Weekend - Merrill Lynch Sold to Bank of America; Lehman Close to Bankruptcy
In the blink of an eye, two icons of Wall Street look like they may cease to exist as independent companies. In a surprise move, Bank of America looks set to purchase Merrill Lynch. After scrambling unsuccessfully to find a buyer, Lehman Brothers is preparing to file for bankruptcy.
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Greenspan on CBS's This Week Says More Financial Failures Probable
Former Fed chief Alan Greenspan said today on CBS's This Week that more major financial institutions may fail and that the government should not protect them all.
Read →Even though there is talk about the Fed lowering rates in the future, most banks raised their cd rates over the last couple of days. Here's a recap.
Read →Amtrust now has the highest yield 6-month CD according to the BestCashCow rate table.
Read →E-Loan is offering a 3.85% APY Savings account with a deposit of $100,000 and monthly deposits of $100.
Read →Washington Mutual, stung from billions in mortgage related losses may be forced to sell its branch and deposit branches in order to raise money to stay afloat, says one analyst.
Read →WaMu raised the rate on its 12 month CD back to 5% APY after briefly dropping it to 4.5% APY. This is the top rate in the nation according to the BestCashCow rate table.
Read →Kerry Killinger, the now ex-CEO of Washington Mutual joins other CEOs from financial services companies in the unemployment line.
Read →How will the seizure of Fannie and Freddie impact you in your day-to-day lives? Read on.
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