Last week’s meeting of the Fed was generally interpreted as bullish on the economy and bolstered confidence that an interest rate increase could indeed come this year.
Though there’s no one-size-fits-all answer for savers and investors, examining goals and time frames can provide direction when considering saving and investment vehicles.
Interest rates as set by the Fed are the biggest factor in fluctuations in CD rates.
Despite many years of investigations by the Securities and Exchange Commission, Allen Stafford’s CD scam ran for more than a decade.
After signing the CD deal, savers will receive prepaid interest in the form of one 2015 Mercedes S550 sedan or three 2015 Sprinter Cargo Vans.
According to an SEC lawsuit, at least four account holders invested $532,000 in CDs in the financial scam.
Since 2007, the percent of families with certificates of deposit has fallen to record lows as CD rates have hit bottom.
It’s only a few basis points. But CD rates have risen a bit since July 23 in the weekly rate surveys at Bankrate.
New rules around rollovers of individual retirement accounts could bite the owners of CD IRAs next year.
CD yields have been plummeting since the Federal Reserve dropped short-term interest rates close to zero.