Fed, interest rates
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Trump announced Kevin Warsh as his nominee for Fed Chair on Friday, and the former Fed governor could be less inclined to slash sharply than the candidates he beat out for the job.
As the Federal Reserve decides its federal funds rate, here’s how it ripples through the economy and influences your finances.
While both Federal Reserve chair candidates have advocated for rate cuts, the new frontrunner could be less inclined to slash sharply.
The highest money market account rate available today is 4.22% Changes from the Fed or your bank can quickly change money market rates Online banks typically offer the most competitive yields on the market Current Money Market Rates The current average money market rate is 0.
The Bank of Canada also held its policy rate at its last scheduled rate announcement in December. REUTERS/Blair Gable · REUTERS / Reuters The Bank of Canada (BoC) held its overnight interest rate at 2.