Today, Ben Bernanke "signaled a readiness to keep on lowering a key interest rate to shore things up." Today's announcement caused stocks to drop in response as well.I'm not sure what I think at this point.
From a personal standpoint, it just means that the interest rates on my savings accounts will drop yet again, and I'm considering dumping some funds into a cd with a decent rate while I still can. I have to admit, I find it a little bit frustrating. But I'd like to think that the people making these decisions are smart and know what they're doing.
Edited to add:
I decided to open another $500 CD with ING Direct at the 3.65% interest rate. Only the 6 month CD is available at this rate. I did this just about a month ago when the rates were over 4%. I'm reluctant to lock up too much of my money for too long (I do have other CDs with a different bank), but I do know that I'm not planning to need this money for another 6 months, so right now, it's what makes the most sense. Sure, it's only $500, so we're only talking a few dollars in interest, but those few dollars add up!
Subscribe to:
Post Comments (Atom)
1 comment:
Good day,
I am Monalyn from Philippines. Your blog inspires me, you wrote meaningful topics and many readers were glad reading the content of your blog.
By the way, have you heard about identity theft? It is one of the common problems of the society. I have a short content about identity theft and this is a good topic for your readers to be aware while surfing the world wide web. If it is okay, I would like to post a brief content about Identity fraud /theft into your blog, this content is just simple but has a great meaning for all of us.
I would be happy if you'll do. More power for your blog, and may it continue in getting popular.
Please response through my email address. Thank you very much.
Life Lock
http://lifelockpromocode.com/
Email: lifelockblog@gmail.com
Post a Comment