On Wednesday, the Federal Reserve Open Market Committee voted to raise the benchmark Federal Funds Rate by another quarter percent or 25 basis points. The Fed Funds Rate is a short-term interest rate at which depository institutions lend money from the Federal Reserve to other banks or depository institutions. The Fed Funds Rate is now between. 0.75 -1.0%. The prime rate currently sits at 3.75% but will rise to 4%. Credit companies use the prime rate as a baseline for what they charge customers — generally the prime plus an additional amount. According to Bankrate, savings accounts currently pay on average 0.11 percent in interest, with 1.25% percent the high end. One-year CDs are paying about 1.24 percent on average.
See more from CNBC below.
If you are in or near retired years, and want to lock-in the gains that you have made over the last four months, and never worry about an inevitable market downturn, then you need to get educated on the exclusive Crash Proof Retirement System. There is a safe and guaranteed alternative to the risk, corruption and fees within the securities industry, and it’s called the proprietary Crash Proof Retirement System. If you’re worried about losing any part of your retirement nest-egg then let Phil Cannella and Joann Small educate you on the exclusive Crash Proof Retirement System. This proprietary system is designed so that when the market goes up, your accounts can experience gains, but when the market goes down or crashes, your accounts stay even; You never lose a penny of your principal and that’s guaranteed! Get educated on the proprietary Crash Proof Retirement System at the next Crash Proof event!
There is no cost…No obligation…Just a Crash Proof Education from the creator of the exclusive Crash Proof System-Phil Cannella, and the CEO of Crash Proof Retirement- Joann Small.
See what you’ll learn at a Crash Proof Retirement Educational Event. Watch below.