Does the interest earned on CD's go UP when the Feds cut the interest rate. I realize the cut is on

patricia92243

(1000+ posts) Send PM | Profile | Ignore

Tue Jan-22-08 09:24 AM
Original message

Does the interest earned on CD's go UP when the Feds cut the interest rate. I realize the cut is on

money that is LENT. But I was wondering if it effects interest earned. My BF has money he wants to put into a CD, and I wanted to know if he should wait because the rate will soon be going up.

Printer Friendly | Permalink | | Top

RedEarth

(1000+ posts) Send PM | Profile | Ignore

Tue Jan-22-08 09:31 AM
Response to Original message

1. Most likely CD rates will be going down over the next several months

Printer Friendly | Permalink | | Top

newportdadde

(1000+ posts) Send PM | Profile | Ignore

Tue Jan-22-08 09:38 AM
Response to Original message

2. They are going down. Just take the money and buy a TV like everyone else.

Interest rates won't be going up for a good while, they just dropped 3/4 of a freakin percent. I swear to god they are just going to print us into oblivion.

The Fed is like the titanic once they start moving in a direction it takes awhile for them to turn the boat around.

Printer Friendly | Permalink | | Top

msongs

(1000+ posts) Send PM | Profile | Ignore

Tue Jan-22-08 09:52 AM
Response to Original message

3. if you live responsibly and save money you are screwed nt

Printer Friendly | Permalink | | Top

CabalPowered

(1000+ posts) Send PM | Profile | Ignore

Tue Jan-22-08 10:01 AM
Response to Original message

4. A CD ladder would be a good way to approach lowering rates

I'd load up on the short term CDs now and longer term CDs a bit later.

http://financialplan.about.com/cs/investing/a/LadderingCDs.htm

Printer Friendly | Permalink | | Top

DU AdBot (1000+ posts)

Thu May 16th 2024, 11:47 AM
Response to Original message

Advertisements [?]

Top

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.