Since the announcement by Fed Chair Jay Powell that the Federal Reserve was raising its benchmark interest rate by three-quarters of a percentage point, the highest rate increase since 1994, many people have worried the hike will cost them money. Federal Reserve raises key interest rate 0.75 percentage points as it tries to calm inflation
"If you are saving money in a bank where they adjust the rates regularly, like in a money market account, your interest rate has probably already risen and will continue to rise as interest rates rise," said finance professor Larry Harris. You can purchase $10,000 in series I bonds each year and must hold them for at least that long. If you don't want to lock up your money, some banks will even offer interest on checking accounts.
Source: News Formal (newsformal.com)
Great advice, inflationary is running at 8.6% but... 'If you are saving money in a bank where they adjust the rates regularly, like in a money market account, your interest rate has probably already risen and will continue to rise as interest rates rise,'
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USC QB Caleb Williams: Full InterviewUSC QB Caleb Williams (CALEBcsw) didn't find success overnight. He put in a lot of work behind the scenes 💪💥 Williams talked to TheTalentCode & TheJoeMarino about his training regimen growing up 👀👇 Full interview: FrontOffice33 | FightOn CALEBcsw TheTalentCode TheJoeMarino He had a couple good games , so did rattler TheTalentCode TheJoeMarino All great questions and his responses were really good as well!
Source: TheDraftNetwork - 🏆 548. / 51 Read more »
USC announces creation of third-party agency for NIL dealsThe agency will allow student-athletes to receive NIL representation, with USC not part of the agency agreements nor receiving any revenue from any deals.
Source: ladailynews - 🏆 332. / 59 Read more »
Relive the glory days of Cleveland’s WIXY 1260 with DJs Larry Morrow and Billy BassBefore WMMS and other stations battled it out for ratings, there was one clear-cut dominant force on the airwaves in Cleveland: WIXY 1260. Listen to WIXY1260Online internet streaming radio 24/7! wixy1260online
Source: clevelanddotcom - 🏆 301. / 63 Read more »
Larry Magid: How to make Google search safer or more preciseNo filter is perfect, and you should still monitor your children’s activities, but SafeSearch can help
Source: mercnews - 🏆 88. / 68 Read more »
More children develop diabetes linked to obesityRates of type-2 diabetes are rising and experts are concerned the situation may only deteriorate. Need to lift the breastfeeding rates Give up sugar, its bad for peoples mental health, it creates inflammation of the brain encourages dementia and new addictive neuropaths. due to refined sugar in so many foods, we are seeing epidemics of obesity and type II diabetes on a global scale. But being fat is healthy
Source: bbchealth - 🏆 143. / 63 Read more »
Fed makes largest interest rate jump in 28 years amid rising inflationThe Federal Reserve raised interest rates by 0.75%, which marks the largest increase since 1994.
Source: fox13 - 🏆 550. / 51 Read more »