My Savings Account's Rate Just Dropped. Here's Why I'm Not Worried About It
Last month, the Federal Reserve cut the federal funds rate by half a percentage point. This benchmark rate is now 4.75% to 5.00%. When the federal funds rate changes, credit unions and banks tend to make adjustments to the interest rates for consumer products.
As expected, many banks have recently reduced rates for accounts that earn interest,
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Read MoreWhere Is The Dollar Going?
John M. Mason writes on current monetary and financial events. He is the founder and CEO of New Finance,
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Read MoreFederal government promises to crack down on card surcharges by 2026
There is an end in sight for consumers getting hit with sneaky surcharges when they pay on card, with the federal government prepared to ban the practice by 2026, promising to give consumers and small businesses “a fair go.”
However, any changes will not take effect until January 1, 2026 and are subject to further reviews by the Reserve Bank of Australia (RBA).
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Read MoreWhy UBS is bumping up its price target for the stock market
Earnings growth that has been broadening out, expected Federal Reserve rate cuts and an improving inflation backdrop were among the factors that UBS Global Wealth Management pointed to as it bumped up its price target for the S&P 500.
David Lefkowitz, head of U.S. equities, said third-quarter earnings were “off to a good start”
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Read MoreThe Burst
The Ivy
Buffett’s “Secret Portfolio” Holds Surprising Treat
Berkshire Hathaway is Warren Buffett’s best known investment vehicle. But another, little-known portfolio sits under his Berkshire investment vehicle and one of the stocks recently added to its portfolio might surprise you.
Almost a quarter of a century ago, Buffett snapped up General Re for its reinsurance operations. Under the General Re umbrella came a subsidiary called New England Asset Management,
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