Federal Reserve Cuts Rates: What It Means for Savings Accounts ...

Nov 7, 2024 · The Fed kept rates high for years, aiming to slow inflation to a 2% rate without …

CouponFollow Extension

2%
OFF

Federal Reserve Cuts Rates: What It Means For Savings Accounts ...

1 week from now

Nov 7, 2024 · The Fed kept rates high for years, aiming to slow inflation to a 2% rate without …

wsj.com

25%
OFF

What The Fed’s December Rate Decision Means For Savings And CDs

1 week from now

May 29, 2024 · By July 2023, the Fed’s “target rate” had risen to between 5.25% and 5.5%, its …

wsj.com

20%
OFF

The Fed Just Cut Interest Rates. How Will Your Finances Be Impacted?

1 week from now

Sep 17, 2024 · Freddie Mac’s 30-year, fixed-rate mortgage average was last at 6.20%, lower …

usatoday.com

32%
OFF

Here's How Savings And CD Rates Could Change Based On Today's …

1 week from now

Sep 18, 2024 · As you can see below, today's top CD rates across terms range from 4.32% to …

investopedia.com

FAQs about Federal Reserve Cuts Rates: What It Means for Savings Accounts ... Coupon?

Why should savvy savers consider CDs after a Fed rate cut?

Savvy savers should consider locking in today’s high rates with CDs after the Fed cuts rates for the first time in four years. This is because CDs offer a fixed interest rate, protecting your savings from potential rate decreases. ...

Should you put money in a CD if the Fed cuts rates?

Edited By Angelica Leicht August 15, 2024 / 10:11 AM EDT / CBS News Putting money into a CD could still make sense if the Fed cuts rates, but there could also be better bets. Getty Images/iStockphoto While inflation has been cooling over the last few months, it has remained higher than the Federal Reserve's 2% target rate for the last few years. ...

Why did online banks cut CD rates?

"Online banks started cutting their CD rates early this year as expectations of Fed rate cuts grew," said Ken Tumin, founder of rate tracking site DepositAccounts, now owned by LendingTree. Yet Tumin noted: "Rate cuts on CDs and savings accounts have accelerated since the September Fed rate cut." ...

Will a FED rate cut make CD accounts less attractive?

While a Fed rate cut may seem to make CD accounts less attractive, there's a compelling case to be made for opening one now while the benefits are still significant. Here are three reasons why you should: CD interest rates are still relatively high right now, with today's rate cut already priced in by many lenders. ...

Are rate cuts on CDs accelerating?

Yet Tumin noted: "Rate cuts on CDs and savings accounts have accelerated since the September Fed rate cut." The Fed cut short term rates by a half of a percentage point on Sept. 18, following a series of 11 rate hikes that kicked off in March 2022 and ended in July 2023. ...

What happens to CD rates when the Fed makes rate cuts?

While the Fed rate doesn't directly impact the rates on savings accounts and CDs, the two generally move in the same direction. So, when the Fed makes rate cuts, CD rates are likely to decrease as well. ...