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Fed Funds Rate Raised by 75 bps to a 2.25%-2.50% Target; Savings Rates Should Get Sweeter
To absolutely nobody’s surprise, the Federal Reserve has voted unanimously to raise the Fed Funds rate by 75 basis points today, setting a Fed Funds rate target of 2.25% to 2.50%. The move follows a similar 75 basis point increase... Read →
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Cash is Trash No More - Federal Reserve Moves Fed Funds Rate Up by 75 Basis Points to A Range of 1.50% - 1.75%
The Federal Reserve has finally become much more serious about controlling inflation. Inflation has gotten so hot by any measure, including core CPI, that Jay Powell can no longer keep his head in the sand. His Fed is pulling trillions... Read →
Image Copyright: WSJ
Federal Reserve Moves Fed Funds Rate up By 50 Basis Points to a Fed Funds Target of 0.75% to 1.00%
The Federal Reserve has finally begun to act according to its mandate to maintain price stability, but inflation is already running rampant. Today’s move is just the beginning of moves that will be necessary. The Fed’s statement... Read →
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Mid-2022 is Just Not the Time to Buy Certificates of Deposit
My inbox is full of two types of emails from readers of BestCashCow and RatesAndInfo.com, a BestCashCow subsidiary. The first is from those who are excited to have found a great CD rate, and the second is from those who are inquiring... Read →
Image Courtesy: Reuters
The Only Person with Balls in Russia (So Far)
Regular readers of my articles will know that I lived in Moscow and practiced tax law there from 1994 to 1996. I also spent time working in Russia and Ukraine in 1990. My first trip to the former Soviet Union came in 1985 and my last... Read →
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Fed Liftoff Day is Here
The Federal Reserve has raised interest rates by 25 basis points today, moving the Fed funds target rate off of zero to a target of 0.25/0.50. The target rate had been at zero since COVID-19 arrived on US shores more than two years ago,... Read →
Image Copyright: Moscow Times
Four Steps to Prepare for A Russian Cyberattack on the US Financial System
I practiced law in Moscow in the 1990s. While there, I learned that Russian law is an oxymoron. I also learned a lot about Russia and its strengths. I am certain that in spite every precaution that US financial institutions have taken,... Read →
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Fed Ends January Meeting Planning to Raise Rates, but Not Until March
The Federal Reserve is going to be raising rates in 2022. This action is desperately needed to fight inflation. But, it isn’t ready to act now. It has been clear that Federal Reserve Chairman Jay Powell has been about as wrong on... Read →
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2022 Is Signaling Wealth Preservation Mode
I am old enough to remember October 1987. I was a college freshman then and I remember my floormates calling their parents to inquire whether they would be able to stay enrolled in college. I also have vivid memories of 2001 and 2008... Read →
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Capital One Venture X is Probably Not a Replacement for Amex Platinum or Chase Sapphire Reserve
Capital One announced the Venture X card last month to great fanfare. They paid the credit card bloggers handsomely to promote it with many of them obliging all too easily and changing the background of their sites to Capital One... Read →
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Two Credit Cards Stand Apart With Outstanding Reward Rates Across All Personal Spend
Over the last several years, all major credit card companies have gotten into the business of promoting spend in certain categories by issuing cards that provide extra points (or cash back) in certain spend categories. It started when... Read →
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Could the Climate Crisis Lead to A Banking Crisis?
I’ve previously espoused the belief that banks need to be given time to formulate a response to the current climate crisis. After COP26 in Glasgow, it is clear that the costs of wind and solar are falling and production advances in... Read →
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The Biden Administration Needs to Stop Appeasement of the Nuclear Lobby
I follow developments in renewable energy and work in the space. 2021 has been a remarkable year for the decline in the cost of offshore wind. We are seeing something similar in the solar/PV space. It is ending with Vestas's surprise... Read →
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Here is How Banks Can Act Now On Climate Change
At COP26 in Glasgow, unlike before, the financial world showed up and a group of 450 financial institutions pledged to invest $130 trillion in the transition to a low carbon world. But, there is so much to be done and it is now incumbent... Read →
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