RateAPY

Geithner Says No Second Recession

Posted by: RateAPY Bank Rates News
December 23rd, 2009

The residual fear of the Great Recession, the worst economic crisis to hit the U.S. in 70 years, is that it’s going to happen again. Some call it a “dead cat bounce.” Many economists have predicted that the economy may take a few steps backward again, given the severity of the recent crisis. But the government is saying, “No!”

“We are not going to have a second wave of financial crisis,” says Treasury Secretary Geithner. The stimulus that the government has put in place is expected to do the job. Current mortgage rates will remain low to support housing. Investing in money market accounts, certificates of deposit, and other savings instruments will continue to be supported by the FDIC’s increased insurance. The many programs that the government has used since the crisis started are having the right effect.

Find the best rates on certificates of deposit, money market accounts, and other savings instruments.