Here's Why Your Bank Account Interest Rate Won't Go Up Even If the Fed Raises Rates
The Federal Reserve has raised rates four times since 2015. The market expects a fifth post-crisis increase in the Fed's target rate on Wednesday, which would bring the fed target to a range of 1.25% to 1.5%.
Even as interest rates trudge higher, most savers aren't seeing the benefit on their checking or savings accounts. That's because many banks have all the deposits they need -- and then some -- eliminating the need for banks to compete with higher interest rates on their deposit accounts every time the Fed votes for an interest-rate increase.
Interest rates are nothing more than the price of money. The price of anything, including bank deposits, is governed by the basic law of supply and demand.
Source: Fool.com
Synchrony Financial Aktie
46,92 €
-0,54 %
Die Synchrony Financial Aktie steht noch am Anfang: Zu wenige Einschätzungen für ein Sentiment.
Ein positives, wenn auch bescheidenes, Potenzial für Synchrony Financial mit einem Kursziel von 50 € im Vergleich zum aktuellen Kurs von 46.92 €.
