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☆ What to do with your money now that the Fed just raised rates for the ninth time
▼ + stars: | 2023-03-22 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +9 min

“But the average credit card rate is now at a record high above 20%, auto loan rates are at a 12-year high and mortgage rates are still north of 6.5%. But online high-yield savings accounts now offer rates as high as 5%, well above the 0.23% national savings account average, according to Bankrate. Another high-yield savings optionGiven today’s still-high rates of inflation, Series I savings bonds may be attractive because they’re designed to preserve the buying power of your money. Your credit card debt: Minimize the biteIf you’re carrying credit card debt, expect to see a hike in the rate you pay within a few statements. “Credit card rates are at record highs and still rising.

☆ Here’s the inflation breakdown for February — in one chart
▼ + stars: | 2023-03-14 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

Overall inflation has moderated from June's pandemic-era peak over 9% but remains higher than any point since the 1980s. watch now"The pervasiveness of inflation is an ongoing issue," said Greg McBride, chief financial analyst at Bankrate. Inflation a byproduct of supply, demand imbalancesConsumer prices began rising at a rapid pace in early 2021 as the U.S. economy started to reopen after the pandemic-related shutdown. Goods inflation has retreated but has since spread to the services sector largely due to business' high demand for workers, economists said. The Fed is trying to manufacture a so-called "soft landing," whereby by inflation slows but the economy doesn't tip into a recession.

☆ VIEW US intervenes to shore up SVB deposits, stem financial fallout
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +10 min

March 13 (Reuters) - The U.S. government announced actions to shore up deposits and stem any broader financial fallout from the sudden collapse of tech startup-focused lender Silicon Valley Bank (SIVB.O) (SVB), sending U.S. stock futures higher. "The market turbulence sparked by SVB has upended rising market expectations on the Fed rate path. The fact that SVB and Signature Bank depositors will be made whole is critical in maintaining trust in the financial system and should help stem contagion fears this week. But it also means that 50 basis points (a possible Fed interest rate hike) is off the table." Given what's happened in the U.S. financial system, a 25 basis point hike is more likely than a 50 basis point hike."

☆ Relax, SVB's implosion is nothing like the 2008 financial crisis, and the economy will be fine
▼ + stars: | 2023-03-13 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

But it's not a repeat of the 2008 financial crisis, when the government stepped in to support the US banking system. In recent days, many have drawn comparisons to the 2008 financial crisis, when the federal government doled out roughly $200 billion to hundreds of banks to support the US banking system. The size of SVB's bank failure has only been surpassed once in American history — by Washington Mutual when it collapsed in 2008. While the economy and markets aren't the same thing, a struggling market can be a negative leading indicator for a weakening economy. If the US economy does enter a recession as some experts expect, SVB's failure is unlikely to be the reason why.

☆ Instant view: US intervenes to shore up SVB deposits, limit financial fallout
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +11 min

March 13 (Reuters) - The U.S. government announced actions to shore up deposits and stem any broader financial fallout from the sudden collapse of tech startup-focused lender Silicon Valley Bank (SIVB.O) (SVB), sending U.S. stock futures higher. ALVIN TAN, HEAD OF ASIA FX STRATEGY, RBC CAPITAL MARKETS, SINGAPORE:"Markets remain unsettled from the SVB failure. "The market turbulence sparked by SVB has upended rising market expectations on the Fed rate path. ANTHONY SAGLIMBENE, CHIEF MARKET STRATEGIST, AMERIPRISE FINANCIAL, TROY, MICHIGAN:"It was imperative that regulators stepped in and decisively acted before markets around the world opened for the week. GREG MCBRIDE, CHIEF FINANCIAL ANALYST, BANKRATE:"While the Fed has talked about a lot in the past year, until today it has been in the context of monetary policy.

☆ US regulators bail out Silicon Valley Bank customers
▼ + stars: | 2023-03-12 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +6 min

Federal regulators announced that depositors of Silicon Valley Bank will be paid in fullIn a statement released Sunday, the Treasury, Federal Reserve and the FDIC said they would "fully protect" depositors with funds in the bank. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer." "Still to be determined is the fate of the assets of Silicon Valley Bank. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer. As with the resolution of Silicon Valley Bank, no losses will be borne by the taxpayer.

☆ Keep emergency savings liquid, not tied up in Treasurys, says Bankrate's Greg McBride
▼ + stars: | 2023-03-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKeep emergency savings liquid, not tied up in Treasurys, says Bankrate's Greg McBrideGreg McBride, chief financial analyst at Bankrate.com, joins 'Power Lunch' to discuss strong yield opportunities in short-term Treasurys, debt ceiling concerns and how to play the bond market.

☆ Watch CNBC's full interview with Greg McBride of Bankrate.com
▼ + stars: | 2023-03-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Greg McBride of Bankrate.comGreg McBride, chief financial analyst at Bankrate.com, joins 'Power Lunch' to discuss strong yield opportunities in short-term Treasurys, debt ceiling concerns and how to play the bond market.

☆ CNBC Daily Open: Stocks snapped their losing streak but it's unclear if their gains can last
▼ + stars: | 2023-02-24 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +1 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Even though stocks have staged a rebound, analysts warn that markets are not out of the woods yet. While that means it's possible for markets to advance further this year, two pieces of data coming out Friday — January's personal consumption expenditures price index and personal income report — will test that idea. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ CNBC Daily Open: Stocks rebound from lows but remain volatile amid confusing market
▼ + stars: | 2023-02-24 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

☆ How Fed rate hikes are impacting consumer loans
▼ + stars: | 2023-02-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow Fed rate hikes are impacting consumer loansGreg McBride, chief financial analyst at Bankrate.com, joins ‘The Exchange’ to discuss the impact of the Fed's rate hikes on mortgages, credit cards, personal loans and more.

☆ Amid persistent inflation, 54% of Americans are using savings to pay for everyday expenses
▼ + stars: | 2023-02-16 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

Inflation is still taking a hefty toll on households, recent reports show. Prices continued their upward momentum in January, rising 0.5% for the month and 6.4% over the past 12 months, according to the latest consumer price index data released by the U.S. Bureau of Labor Statistics. To make ends meet, 27% of Americans said they've had to take money out of savings and more than half, or 54%, said they used that money to pay for everyday expenses, such as groceries and rent, the recent Country Financial Security Index found. More from Personal Finance:What is a 'rolling recession' and how does it impact you? "Inflation has shredded household budgets over the past two years, and not just when it comes to one-off discretionary expenses or special occasions, but for keeping up with day-to-day bills," said Greg McBride, chief financial analyst at Bankrate.com.

☆ Inflation is higher than expected at 6.4%, with the 'most important' measure remaining elevated
▼ + stars: | 2023-02-14 | by ( Mike Winters | ) www.cnbc.com time to read: +3 min

The inflation rate only dropped slightly in January — down to a year-over-year rate of 6.4%, after posting 6.5% in December. Since food and energy prices are volatile, core inflation is seen as a better indicator of overall inflation trends. While Federal Reserve chair Jerome Powell said in a speech last week that "the disinflationary process has begun," he warned that persistently high inflation could stay elevated in 2023. This measure has been described by Powell as the "most important" measure of where inflation is headed in 2023. In Tuesday's report, the cost of "services less energy services" rose by 0.5%, its third straight month of similar gains.

☆ Household budgets are shredded: These stocks will benefit as consumers trade down to store brands
▼ + stars: | 2023-02-14 | by ( Michelle Fox | ) www.cnbc.com time to read: +12 min

Shoppers are largely creatures of habit, but after two years of rising prices, a broader shift to private label brands is underway. 'A tailwind' for private label That is good news for store brands, otherwise known as private label. Yet the biggest pure play on private label brands is Treehouse Foods , Chappell said. "That's where you're going to see them lean into store brands," said Mary Ellen Lynch, principal of IRI's center store solutions. Americans forced to trade down due to supply chain constraints found store brands they enjoyed, she said.

☆ Inflation has gone supercore
▼ + stars: | 2023-02-13 | by ( Christine Romans | ) edition.cnn.com time to read: +4 min

The new favorite: supercore inflation. Supercore inflation refers to prices that rise when workers get paid more for their services. “Supercore inflation was a strong 6.4% on a year-over-year basis through December 2022, but it is moderating,” said Mark Zandi, Moody’s chief economist. For the three months through December, supercore inflation is up only 2.4% annualized, and just 0.9% annualized in the month of December. “Supercore inflation is still way too hot, but it has begun to cool off, and all signs point to it and overall inflation getting back to something more comfortable over the coming 12-18 months,” Zandi told CNN.

☆ Savers poised for 'biggest win' in 2023 as inflation falls. Where to put your cash now
▼ + stars: | 2023-02-06 | by ( Lorie Konish | ) www.cnbc.com time to read: +5 min

Xavier Lorenzo | Moment | Getty ImagesAs interest rates go up, 2023 is shaping up to be a good time for savers who stand to earn more money on their cash. As the unemployment rate hit a 53-year low in the latest jobs report, the interest rate increases are expected to keep coming. Online savings accounts tend to pay the highest rates, with rates like 4% or 4.5% becoming more common. Series I bonds have 'become a better deal'Series I bonds are accrual type savings bonds tied to inflation that are issued by the government. If you cash in the I bond in the first five years, you will lose three months' interest, McBride said.

The rate hikes imposed by the Fed since March have now totaled 4.5 percentage points, with the policy rate now in a range between 4.50% and 4.75%, the highest since 2007. It is in part that resilience that has the central bank poised for "ongoing increases" in its policy interest rate. Stocks, modestly lower ahead of the Fed rate decision, turned sharply higher as Powell spoke. "If you were hoping for clear signs of an upcoming pause in interest rate hikes, you were left wanting. INFLATION TARGET REAFFIRMEDThe Fed statement indicated that any future rate increases would be in quarter-percentage-point increments, dropping a reference to the "pace" of future increases and instead referring to the "extent" of rate changes.

Stocks, modestly lower ahead of the Fed rate decision, turned sharply higher as Powell spoke, with the benchmark S&P 500 (.SPX) index climbing about 1% on the session. At the same time, the yield on the 2-year Treasury note , the maturity most sensitive to Fed policy expectations, dropped abruptly to the day's low, last trading down about 8 basis points at around 4.12%. The Federal Reserve retained the phrase 'ongoing increases' in their statement, leaving their options open depending on what upcoming economic data says," said Greg McBride, chief financial analyst at Bankrate. The statement did indicate that any future rate increases would be in quarter-percentage-point increments, dropping a reference to the "pace" of future increases and instead referring to the "extent" of rate changes. But those, it said, would take into account how the policy moves so far had impacted the economy, language that linked further rate increases to the evolution of upcoming economic data.

[1/5] U.S. Federal Reserve Chair Jerome Powell addresses reporters after the Fed raised its target interest rate by a quarter of a percentage point, during a news conference at the Federal Reserve Building in Washington, U.S., February 1, 2023. Stocks, modestly lower ahead of the Fed rate decision, were little moved by the release of the policy statement, with the benchmark S&P 500 (.SPX) index down about 0.3% on the session. The yield on the 2-year Treasury note , the maturity most sensitive to Fed policy expectations, rose to the day's high, last trading up 2 basis points at about 4.22%. "If you were hoping for clear signs of an upcoming pause in interest rate hikes, you were left wanting. The statement did indicate that any future rate increases would be in quarter-percentage-point increments, dropping a reference to the "pace" of future increases and instead referring to the "extent" of rate changes.

☆ As the Fed increases tightening, credit card rates jump to record highs
▼ + stars: | 2023-02-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAs the Fed increases tightening, credit card rates jump to record highsGreg McBride, chief financial analyst at Bankrate.com, joins 'The Exchange' to discuss the influence Fed rate hikes have on consumer spending, increases in household debt, and credit card rates moving higher.

☆ The Fed just raised interest rates 25 basis points—why they'll stay high and what it means for your money
▼ + stars: | 2023-02-01 | by ( Mike Winters | ) www.cnbc.com time to read: +1 min

The Federal Reserve increased the federal funds rate by 25 basis points Wednesday, further increasing how much you'll likely pay on mortgages, auto financing, credit cards and loans. With its eighth consecutive hike, the federal funds rate — which influences the interest rates banks charge — has been raised to a range of 4.5% to 4.75%. "The impact of a single, quarter-point interest rate hike is pretty minimal, but when we look at the cumulative effect of rate increases, the impact on households becomes clear," says Bankrate Chief Financial Analyst Greg McBride. Interest rate hikes are meant to reduce inflation by making the costs of borrowing more expensive, but they also slow economic growth, which can lead to a recession. For that reason, Federal Reserve Chair Jerome Powell reaffirmed his commitment to keeping interest rates elevated until inflation is further tamed.

☆ After the Fed’s latest move, how come you’re still not getting a higher rate on your bank savings?
▼ + stars: | 2023-02-01 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +10 min

So how come you’re not getting a higher rate on your bank savings? Another high-yield savings optionGiven today’s still-high rates of inflation, Series I savings bonds may be attractive because they’re designed to preserve the buying power of your money. For the week ending January 26, the 30-year fixed rate mortgage averaged 6.13%, well above where it was a year earlier, at 3.55%. So, if you’re close to buying a home or refinancing one, lock in the lowest fixed rate available to you. The variable rate on a home equity line of credit or a fixed rate on a home equity loan will rise because their formulas are directly tied to the Fed’s rates.

☆ Here's what the Federal Reserve's 25 basis point interest rate hike means for your money
▼ + stars: | 2023-02-01 | by ( Jessica Dickler | ) www.cnbc.com time to read: +7 min

The federal funds rate, which is set by the U.S. central bank, is the interest rate at which banks borrow and lend to one another overnight. "Credit card interest rates are already as high as they've been in decades," said Matt Schulz, chief credit analyst at LendingTree. As the federal funds rate rises, the prime rate does, as well, and your credit card rate follows suit within one or two billing cycles. "A 0% balance transfer credit card remains one of the best weapons Americans have in the battle against credit card debt," Schulz advised. The average interest rate for a 30-year fixed-rate mortgage is now around 6.4% — up almost 3 full percentage points from 3.55% a year ago.

☆ The Federal Reserve is likely to hike interest rates again. What that means for you
▼ + stars: | 2023-01-30 | by ( Jessica Dickler | ) www.cnbc.com time to read: +5 min

What the Fed's rate hike means for youThe federal funds rate, which is set by the central bank, is the interest rate at which banks borrow and lend to one another overnight. As the federal funds rate rises, the prime rate does, too, and credit card rates follow suit. After rising at the steepest annual pace ever, the average credit card rate is now 19.9%, on average — an all-time high. Student loans Federal student loan rates are also fixed, so most borrowers won't be impacted immediately by a rate hike. Savings accounts On the upside, the interest rates on some savings accounts are higher after a run of rate hikes.

☆ Savings rate plunge as inflation eats into bank accounts, says Bankrate.com's Greg McBride
▼ + stars: | 2023-01-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSavings rate plunge as inflation eats into bank accounts, says Bankrate.com's Greg McBrideGreg McBride, chief financial analyst at Bankrate.com, joins 'The Exchange' to discuss credit rate increases, a growing volume of credit card debt, and the relationship between credit card rates and Fed policy

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