The Fed Cut Rates. Will Saving Account and CD Rates Plummet?
The Fed meets eight times a year to assess the health of the US economy and vote on the federal funds rate, the rate banks use to lend and borrow money. While the Fed’s decision to change rates doesn’t directly affect savings rates, changes in APYs typically follow. The changes can take several weeks or even months to take effect.
Stock Market Today: Dow finishes above 42,000 for first time in history after Fed's big rate cut
The blue-chip Dow was on pace to ink a milestone, a day after the Federal Reserve cut interest rates in a big way. The Dow Jones Industrial Average was up 1.3%, at last check, trading near 42,030. Should that level hold,
What impact will the Federal Reserve's rate cut have on stocks?
"The markets were crossing their fingers for a larger cut." The decision by the Fed's policy-setting committee to cut interest rates for the first time since March 2020 was prefaced by an unusual amount of market uncertainty as to how much the central bank would lower its benchmark rate from a two-decade high of 5.
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