🎧 In theory, Fed hikes encourage less spending and more saving. So why are interest rates on savings accounts still so low? The Odd Lots podcast digs into the making of bank deposit rates, and what it means for where you keep your money
The Federal Reserve has been raising benchmark borrowing rates at the fastest pace in decades, but the interest rate paid out to millions of people with bank accounts is still stuck at almost zero. According to data from Bankrate, the average interest rate on savings accounts is just 0.23%.
The Federal Reserve has been raising benchmark borrowing rates at the fastest pace in decades, but the interest rate paid out to millions of people with bank accounts is still stuck at almost zero. According to data from Bankrate, the average interest rate on savings accounts is just 0.23%.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Why ‘East Palestine,’ ‘Toxicity’ Top Interest in U.S. Searches, InfluenceThe EPA held a press conference Tuesday to address the ongoing impact of the Norfolk Southern train derailment in East Palestine, Ohio.
Read more »
Why Keri Russell Did ‘Cocaine Bear’: ‘Why the F*ck’ Not?Keri Russell tells beastobsessed why she signed on for CocaineBear and explains what it was like to film the wild movie: “When I read it, I couldn’t believe a studio was going to make this movie. I still can’t. I feel like they might still pull it.”
Read more »
Fed Wants ‘Substantially’ Lower Inflation Before Easing Interest Rates—And Some Officials Backed More Aggressive HikesWith inflation continuing to run hotter than expected, the Federal Reserve is showing no signs of backing down on its aggressive monetary policy, according to notes from the Fed's policy-setting committee released Wednesday.
Read more »
How Climate Change Is Making Tampons (and Lots of Other Stuff) More ExpensiveWhen the Agriculture Department finished its calculations last month, the findings were startling: 2022 was a disaster for upland cotton in Texas, the state where the coarse fiber is primarily grown and then sold around the globe in the form of tampons, cloth diapers, gauze pads and other products. In the biggest loss on record, Texas farmers abandoned 74% of their planted crops — nearly 6 million acres — because of heat and parched soil, hallmarks of a megadrought made worse by climate change.
Read more »
Republicans for president — lots of them
Read more »
Jeremy Strong Is So, So OddIn a new interview with GQ, Strong makes clear that scrutiny from a 2021 profile on the Succession star's intense approach to method acting didn't change him.
Read more »