RateAPY

Despite Increasing Consumer Investments, Recovery Won’t Feel Good Says Bernanke

Posted by: RateAPY Bank Rates News
June 15th, 2010

Modest Economic Growth
In a recent interview with Sam Donaldson, Federal Reserve Chairman Ben Bernanke said the U.S. is recovering from the Great Recession but that recovery won’t feel good. The economy is growing for the 4th straight quarter but only at a rate of about 3-3.5%.
Investments Not Strong Enough to Outpace Unemployment
Consumer investments and spending ... Read more »

One-Year Certificate of Deposit from Ally Bank Earns 1.49% APY

Posted by: RateAPY Bank Rates News
June 15th, 2010

If the Federal Reserve increases interest rates, consumers are more likely than ever to open a certificate of deposit (CD) to lock in guaranteed interest for a specific term. In the meantime, savers can compare rates online to find the best interest rates.
Ally Bank offers a wide range of CDs that ... Read more »

Raising Interest Rates Recommended by Fed Pres Bullard

Posted by: RateAPY Bank Rates News
June 14th, 2010

As mentioned in a previous Money News blurb, three Federal Reserve Bank presidents were openly talking about the FOMC beginning to raise interest rates. Now a fourth may be joining their camp.
Higher Interest Rates Urged by Another Fed Pres
James Bullard, president of the St. Louis Federal ... Read more »

Another Fed Pres Wants to Raise Interest Rates

Posted by: RateAPY Bank Rates News
June 7th, 2010

The first Federal Reserve bank president to openly talk about tightening interest rates was Thomas Hoenig, president of the Federal Reserve Bank of Kansas City. He is a voting member of the FOMC and has been the lone dissenting voter on current monetary policy.
More Fed Presidents Favor Raising Interest Rates
Last month ... Read more »

Interest Rates Likely to Remain Low Due to Low Inflation

Posted by: RateAPY Bank Rates News
June 3rd, 2010

Analyst Predicts Low Inflation
Ray Dalio of Bridgewater Associates spoke to SmartMoney.com and offered a prediction that inflation would remain low. Low inflation means the Federal Reserve will likely keep interest rates low to stimulate the economy.
Refinancing–But No Debt Reduction
Dalio’s interesting commentary included these points:

Governments around the world are printing money like never before, but with ... Read more »

Fed President Has Higher Interest Rates in Mind

Posted by: RateAPY Bank Rates News
May 31st, 2010

Jeffrey Lacker is the President of the Federal Reserve Bank in Richmond, Virgina. He is not yet a voting member of the FOMC but does attend and contribute to the FOMC meetings on interest rates. He is beginning to make statements about his bullish view on the U.S. economy and the possibility of higher interest ... Read more »

Money Market Account from Gogebic Range Bank Earns Over 2% APY

Posted by: RateAPY Bank Rates News
May 24th, 2010

Interest Rates Likely to Remain Flat
The minutes of the Federal Open Market Committee meeting of April 27-28 were published May 19 by the Federal Reserve. They did not make happy reading for savers, because the committee’s position on interest rates–that they should remain at “exceptionally low levels…for an extended period”–remained unchanged.
That, of course, means that ... Read more »

Interest Rate News: FOMC Minutes Released

Posted by: RateAPY Bank Rates News
May 19th, 2010

The Federal Reserve’s Federal Open Market Committee(FOMC) meets eight times a year–about every six weeks–to discuss U.S. monetary policy. The most recent meeting was April 27-28. Three weeks after the meeting, the minutes are released. Today, the minutes from the April 27-28 meeting were released. They ... Read more »

Savings Is Main Event with 1.66% APY from Main Bank

Posted by: RateAPY Bank Rates News
May 19th, 2010

Savings Accounts Aren’t All the Same
It is an unpalatable fact, but most savings accounts still are not paying the sorts of interest rates that savers need to maintain a reasonable lifestyle. Worse, the Federal Reserve’s Federal Open Market Committee says that it expects interest rates to remain low “for an extended ... Read more »

Bad Credit Will Cost You More

Posted by: RateAPY Bank Rates News
May 11th, 2010

The Federal Reserve recently tightened regulations on credit card companies making it harder for them to raise interest rates. This has caused a back lash from the larger companies because it restricts how they manage bad credit risk. In the past, when a customer missed a payment, they could raise the interest rate in line ... Read more »