How will the Fed's rate cut affect high yield savings accounts? - high rate online savings
Today, Ben Bernanke said the Fed will lower interest rates. What impact, if any, will be having an impact on high-yield online savings accounts (like ING, for example)? The proportion of accounts and low interest rates, climbing, or will they remain the same? If showing no effect at all?
Monday, January 11, 2010
High Rate Online Savings How Will The Fed's Rate Cut Affect High Yield Savings Accounts?
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2 comments:
You can usually find the banks have lowered their prices, while the U.S. Federal Reserve to believe, but today the financial markets that hunger, as always, there is the CD in the country, companies are forced to pay higher prices too high, so that more resources.
ps the FOMC was not until 30 January so that if the court is going to happen.
Firstly, this is not really true, it is now the FOMC decision. Bernanke has said some things that (very) suggests that the Fed should cut rates is likely to recur.
ING immediately reduce their prices - a friend of mine shortly after the announcement of the results and looked at their website. ING Savings Accounts are variable rate, if someone with money has an impact on an account at this time. Certificates of Deposit, but have a fixed interest rate until maturity, so that you have already invested money in a CD, locked in advance fees.
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