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☆ Investors should still keep emergency funds liquid after the Fed's interest rate cut, advisor says
▼ + stars: | 2024-09-25 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

After years of higher yields on cash, the Federal Reserve's shifting policy means lower future returns on savings, certificates of deposit and money market funds. Despite falling rates, investors should still keep emergency funds "liquid," meaning the cash can be easily tapped, financial experts say. Banks use the federal funds rate to lend to and borrow from one another. Meanwhile, the biggest retail money market funds were still paying around 5%, as of Sept. 24, according to Crane Data. If you have been earning 4% to 5% on emergency savings, you could see a "small reduction" in the short term, said Kenealy, who recommends keeping emergency funds where they are.

Persons: Kathleen Kenealy, Banks, Kenealy Organizations: Finance, Data Locations: Woburn , Massachusetts

MILWAUKEE (AP) — The first sign of discontent regarding Craig Counsell’s decision to leave the Milwaukee Brewers to manage the Chicago Cubs appeared in his hometown at the Little League field that bears his name. The sign was covered up Tuesday morning, one day after the Cubs landed Counsell with a five-year deal worth over $40 million. “I give Craig credit for helping to build that, and for adding all these coaches, all of whom have stayed. Counsell told the Milwaukee Journal Sentinel on Tuesday the opportunity for a new professional challenge and the proximity of Chicago made this opportunity appealing. Neitzel said he believed Attanasio would have received most of the criticism if Counsell had ended up managing any opponent other than the Cubs.

Persons: Craig Counsell’s, “, Mark Attanasio, Craig, ” Counsell, John Counsell, Counsell, Indiana Jones, Kay Kenealy, ’ “ Laura Hemming, Aaron Rodgers, Brett Favre, Favre, Gabe Neitzel, Brett, ” Neitzel, Attanasio, Terry Francona, David Ross, ” Attanasio, ” Kenealy, ” Hemming, ”, Hemming, Hunter Baumgardt, Baumgardt, he’d, Neitzel, “ Craig Counsell’s, ” Baumgardt Organizations: MILWAUKEE, Milwaukee Brewers, Chicago Cubs, Little League, Cubs, Brewers, Major League Baseball’s, Milwaukee, Milwaukee Journal Sentinel, Brewers ’, ‘ Raiders, Wisconsin, Green Bay Packers, New York Jets, Packers Hall of Fame, Minnesota Vikings, Packers, ESPN, Vikings, MLB Locations: Whitefish, Milwaukee, Counsell, Chicago, Waukesha , Wisconsin, Minnesota, Wisconsin, Madison

Four college students have died and three others were injured after the SUV they were in crashed early Saturday in the Maine town of Castine, authorities said. Jerry Paul, president of the Maine Maritime Academy, where all seven attended, said in a statement that he's devastated. The four were preliminarily identified as Brian Kenealy, 20, of York, Maine; Chase Fossett, 21, of Gardiner, Maine; Luke Simpson, 22, of Rockport, Mass. All seven were students at the academy, a circa-1941 state school that prepares students for careers in overseas transportation, the Navy, and other ocean-oriented pursuits. Castine, about 35 miles south of Bangor, Maine, has a population of about 1,100 residents, slightly more than the academy's student body.

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