Fed Cuts Interest Rates to Record Low

In case you missed the news, the Federal Reserve has cut rates to what it calls a “target range” of 0-0.25% and further indicated that they won’t be increasing anytime soon. This is the ninth rate cut in the past 14 months, and leaves the Fed with virtually no room for additional cuts. In other news, the dollar fell and gold prices increased.

It’ll be interesting to see what this does to interest rates for online savings accounts. Once again, now might be a good time to consider buying CDs before banks drop their rates.

4 Responses to “Fed Cuts Interest Rates to Record Low”

  1. Anonymous

    I have no idea what the Fed is doing here. They seriously have no room now to deal with any additional negative shocks, which there definitely will be in the months ahead.

  2. Anonymous

    I have been getting so frustrated watching my ing rate drop drop drop! At the same time the 2% increase between CDs and High Yield Savings account doesn’t make me all that excited considering the restrictions of CDs. Just me!

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