Banking
The antidote to bad tech is good tech. That line comes from the new movie Mountainhead, the latest from Succession showrunner Jesse Armstrong. I’ve been thinking a lot about that statement since I heard Armstrong repeat it in a recent interview. Armstrong’s observation landed with me because I’ve been spending a lot of time lately worrying about technology’s impact on young people and how those effects will play out in business and society. Although I’ve worked in technology for my entire career, people will tell you I’m a salesperson, manager and leader at heart. I’m at my best when interacting…
The Federal Reserve lowered the federal funds rate by 50 basis points, or one-half of a percentage point, on Sept. 18. This decrease is the first rate drop since March 2020, and the Fed rate’s current range of 4.75% to 5.00% is still high compared to what it was for most of the past two decades[0]Board of Governors of the Federal Reserve System. FRED Graph. Accessed Sep 18, 2024..When is the next Fed meeting?The Federal Open Market Committee’s next meeting is Nov. 6-7, 2024. This is the next scheduled time that the FOMC could modify the federal funds rate.This rate,…
Additional information about bank bonuses: checking account bonuses, bank sign-up bonuses and moreWhat does the Fed rate announcement mean for bank account bonuses?In September, the Federal Reserve announced it would lower the federal funds rate (the rate which commercial banks use to borrow and lend money to one another). The Fed last changed the rate in July 2023, which was the fourth change that year and an increase. The Fed also increased the rate seven times in 2022. The changes haven’t directly affected bank bonuses, but it could still be a good time to open a new bank account in…
The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.Federal Reserve officials completed a two-day meeting on September 18 and announced a federal funds rate decrease of 50 basis points.[0] This is the first decrease in more than four years. The target range is now between 4.75% and 5.00%. Previously, the target was 5.25% to 5.50%. With the recent announcement, savers are likely to see slight dips in savings rates.Will high-yield savings…
Our Nerds say:“When choosing a savings account, a high rate isn’t the only thing you’ll want to consider. You’ll want to see whether there are any monthly fees or withdrawal limits. “It’s also important to pick an account that meets your overall banking needs. If you want your checking and savings accounts to be at the same bank, for example, you’ll want to go with an institution that offers both checking and high-yield savings.”- Margarette Burnette, NerdWallet banking writerBest high-yield savings accounts: full list of editorial picksWhen selecting the best high-yield savings accounts, NerdWallet uses multiple data points, including monthly…