topic Re: Fed Hikes rates.... in Community Chat

Fed Hikes rates....

phoenixbrd — Wed, 22 Mar 2023 20:29:32 GMT

just announced to be raised .25. The Fed took the middle of the road choice.

Re: Fed Hikes rates....

granddi — Wed, 22 Mar 2023 20:54:38 GMT

And the markets noticed. The highest since '07

Re: Fed Hikes rates....

Still Raining — Wed, 22 Mar 2023 21:53:19 GMT

I still remember about 1980 or so, wow. Now I know why old folks say kids are spoiled. Anyone else remember the mortgage rates?

Re: Fed Hikes rates....

Big Joanie — Wed, 22 Mar 2023 21:57:33 GMT

@Still Raining wrote:
I still remember about 1980 or so, wow. Now I know why old folks say kids are spoiled. Anyone else remember the mortgage rates?

Oh I do ....

Re: Fed Hikes rates....

granddi — Wed, 22 Mar 2023 21:59:23 GMT

@Still Raining wrote:
I still remember about 1980 or so, wow. Now I know why old folks say kids are spoiled. Anyone else remember the mortgage rates?

yes, we took out a business loan. The banker kept apologizing that the interest would be 10%. I knew seniors that were elated that CD rates were 12%+.

Re: Fed Hikes rates....

gidgetgh — Wed, 22 Mar 2023 22:05:48 GMT

Again, have to say that I am thrilled with the personal savings rates.

Re: Fed Hikes rates....

phoenixbrd — Wed, 22 Mar 2023 23:22:49 GMT

Re: Fed Hikes rates....

AuntG — Wed, 22 Mar 2023 22:44:46 GMT

Glad we aren't looking for a mortgage.

Today's market.....it closed down 531 points. Dow Jon...

phoenixbrd — Wed, 22 Mar 2023 22:51:24 GMT

Today's market.....it closed down 531 points.

Dow Jones Industrial Average

As of 22 March 2023 • 4:05 PM GMT-5

DJI: .DJI

32,030.11USD

-530.49(1.63%)

Today5D1MYTD1Y5YAll

Re: Fed Hikes rates....

gidgetgh — Wed, 22 Mar 2023 23:28:32 GMT

@phoenixbrd - my main bank, a large one, had been paying .01 on their money market accounts. They raised the rate to 3.66.....for a money market. I was shocked.

They're also offering a 9 month cd for 4.65%.

My favorite, American Express money market will probably raise their money market rate again, now that the Fed raised interest. They're currently paying 3.75% for their money market.

If you have a 2nd person on the account, or a beneficiary named on the account, the FDIC limit is usually higher.

Re: Fed Hikes rates....

ValuSkr — Wed, 22 Mar 2023 22:55:50 GMT

We hope Janet Yellen knows what she's doing.

Re: Fed Hikes rates....

fthunt — Wed, 22 Mar 2023 23:00:33 GMT

HOPE...........a prayer thrown in too might (might) be wise.

Re: Fed Hikes rates....

gidgetgh — Thu, 23 Mar 2023 00:25:26 GMT

@ValuSkr wrote:
We hope Janet Yellen knows what she's doing.

@ValuSkr

She is Secretary of the Treasury, not Federal Reserve Chairman. They are separate entities.

Re: Fed Hikes rates....

phoenixbrd — Wed, 22 Mar 2023 23:21:25 GMT

Re: Fed Hikes rates....

phoenixbrd — Wed, 22 Mar 2023 23:05:29 GMT

@ValuSkr Don't hold your breath too long. Please do your own research if you have a dog in the fight. Just trying to save you some heartache.

Re: Fed Hikes rates....

gidgetgh — Wed, 22 Mar 2023 23:30:08 GMT

@phoenixbrd - and full disclosure, though I worked in finance for 38 years, I am not now and never was a financial advisor and am not affiliated with AMEX at all. Just a very satisfied customer.

Re: Fed Hikes rates....

Carmie — Wed, 22 Mar 2023 23:08:48 GMT

@Still Raining wrote:
I still remember about 1980 or so, wow. Now I know why old folks say kids are spoiled. Anyone else remember the mortgage rates?

I do We bought our first home August 21, 1979. The interest rate was 10.75%

Re: Fed Hikes rates....

Sooner — Wed, 22 Mar 2023 23:09:37 GMT

@Still Raining wrote:
I still remember about 1980 or so, wow. Now I know why old folks say kids are spoiled. Anyone else remember the mortgage rates?

@Still Raining You mean the 18 percent rates? You bet you. We went years not buying a bigger house because we couldn't even afford to move to one the same size because of the rates. Horrible!

It sure cuts down on credit card use too.

Re: Fed Hikes rates....

Snowpuppy — Wed, 22 Mar 2023 23:14:26 GMT

This is just the beginning to usher in CBDC. This time we are bailing out the 1%. 75% of account holders in SVB had more than $1M on deposit.

Inflation will be with us far longer. The UK announced inflation is surging again after remaining steady.

Never let a good crises go to waste.

Re: Fed Hikes rates....

phoenixbrd — Wed, 22 Mar 2023 23:28:43 GMT