The Federal Reserve's campaign of interest rate increases has been kryptonite for the stock market this year. But another knock-on effect of rising rates is higher income on risk-free savings accounts — a welcome change for savers.
The Federal Reserve's campaign of interest rate increases has been kryptonite for the stock market this year. But another knock-on effect of rising rates is higher income on risk-free savings accounts — a welcome change for savers.
For the last dozen years or so, rates of return on saving have been quite low by historical standards. Interest on 1-year certificates of deposit were well below 1% most of the time.Interest rates on savings are surging this year — the average rate on 1-year certificates of deposit has risen from nearly zero to almost 2%, according to Bankrate.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
The floodgates are open for grandparents to super-size college savings for grandkidsYou will soon be able to fund a tax-advantaged 529 college savings plan for your grandkids – without hurting their financial aid, according to some rule changes to federal financial aid calculations in 2023.
Les mer »
Season's Savings: How to Avoid Paying Shipping FeesHoliday shopping online is convenient, but those shipping fees can really eat away at your shopping budget. In a year where every dollar is just that much more important, how can you avoid them?
Les mer »
COVID-19 Risk Bounces Back Down to ‘Low’ Across Chicago, Cook County: Federal OfficialsThe threat of COVID-19 eased across Chicago and Cook County Thursday, as federal officials moved the warning level to “low” after just one week at “medium,” according to CDC data.
Les mer »
With a nod to '1984,' a federal judge blocks Florida's anti-'woke' law in collegesGov. Ron DeSantis was a champion of the bill designed to limit instruction about racism and privilege in the workplace and public universities. A federal judge called it 'positively dystopian.'
Les mer »
Federal agent killed in shootout with suspected smuggling boat off Puerto RicoCABO ROJO, Puerto Rico — A federal marine agent with U.S. Customs and Border Protection was fatally shot while approaching a suspected smuggling boat off the coast of Puerto Rico on Thursday morning, officials said.
Les mer »