The Feds lowered interest rates another 1/2 per cent, today, and at this writing the market went down, after having been up a little.
This does not bode well for retirees, who in many cases, are living on savings interest and investments. This population is going to suffer with this economy.
It's great for those wanting to purchase a home, and are smart enough to lock in a FIXED rate.
I think a lot of people are going to get frustrated with saving, and seeing low interest rates.
It might have been the optimal day to transfer savings to a CD. I just switched my ING account to a CD, and probably just got in under the wire.
Double whammy
January 30th, 2008 at 09:23 pm
January 30th, 2008 at 09:32 pm 1201728739
January 30th, 2008 at 09:41 pm 1201729272
January 30th, 2008 at 10:00 pm 1201730425
January 31st, 2008 at 01:33 am 1201743211