Cash News A tariff is a tax on imported goods usually aimed at protecting local jobs and industries from foreign competition. The idea is that if foreign materials and products are more expensive, you’ll buy more domestic goods. Suppose, for example, that the U.S. government levied a new 10% tariff on cars imported from Japan. […]
Cash News Discover Bank and Capital One are often recognized as credit card giants, but these financial institutions offer banking products and services as well. And they’re both known for providing fee-free online accounts with competitive interest rates. If you’re looking for a new bank, you might be wondering which is better: Discover vs. Capital […]
Cash News On Nov. 7, 2024, the Federal Open Market Committee (FOMC) lowered its benchmark interest rate by 25 basis points or 0.25%. This was the second rate adjustment since July 2023 and the second consecutive rate reduction. The cut, prompted by improving economic conditions in the U.S. Inflation, which had driven the Fed’s rate […]
Cash News You may not think much about the federal funds rate day to day, but this key number impacts many areas of your financial life and the economy as a whole. The Federal Reserve — the country’s central bank — periodically adjusts its target rate to keep the economy running smoothly and consumer prices […]
Cash News There was another quarter-point cut to short-term interest rates on Thursday from the Federal Reserve. With the election over, stocks soaring, and rates declining, frothy optimism is bubbling up in the capital markets. With inflation at 2.4% in September — within fractions of the 2% target — Fed officials decided to cut interest […]
Cash News You may not be earning as much interest on your savings account as you could. Some of the biggest banks in the U.S., including Chase, Bank of America, and Wells Fargo, offer savings accounts that pay just 0.01% APY. However, other institutions offer savings rates of 5.00% APY or more. Why is there […]
Cash News The card is already one of our favorite cash-back credit cards for Amazon shoppers. Now, it has even more to offer new cardmembers: a $200 Amazon gift card available immediately after approval. Whether you want to earn more rewards on your everyday purchases with Amazon, Whole Foods, and more, or you’re getting a […]
Cash News After years of raising interest rates to combat high inflation, the Federal Reserve recently began lowering the federal funds rate. While this is good news for borrowers, eager savers may not be as appreciative. With savings account interest rates falling in response to a lower federal funds rate, those who’ve been enjoying high […]
Cash News Between March 2022 and July 2023, the Federal Reserve raised its benchmark rate 11 times. As a result, money market account (MMA) interest rates rose sharply. However, the Fed slashed the federal funds rate by 50 basis points in September. So deposit rates — including money market account rates — have started falling. […]
Cash News The 30-year fixed mortgage rate has increased for the sixth straight week. According to Freddie Mac, it is up by seven basis points to 6.79% — which means it is now above the 52-week average of 6.76%. Mortgage rates probably won’t decrease (at least not significantly) in 2024. Interest rates will likely go […]