Savers may want to lock in high interest rates for the long haul before they likely head lower later this year. But is 100 years too long? Concord, New Hampshire-based Walden Mutual Bank is finding out. The financial institution is offering a100-year Local Impact Certificate of Deposit (CD) paying a fixed 4.75% annual interest rate.
Recent economic data has shown remarkable resilience to higher interest rates placed upon us by the Federal Reserve. Traditional economic theory would say the Fed rate is restrictive, but strong jobs reports and higher inflation says otherwise. These factors have crushed market expectations of interest rates dropping this spring. Some within the Fed have even
The stock market, not to mention life itself, has been a rollercoaster over the past few years. In rinse-and-repeat-like cycles, stocks have tumbled as the pandemic, inflation or the Federal Reserve’s interest rate hikes have darkened the economic outlook — and rebounded as COVID or inflation have eased and the Fed has forecast market-friendly rate
With inflation picking up again and highly anticipated Federal Reserve interest rate cuts delayed, it may be a good time for Americans to tweak their investment and retirement portfolios, financial advisers say. While U.S. rate cuts are on hold, the European Central Bank (ECB) suggested last week that its first rate cut could come in
In the past five years, the United States has transitioned through several challenging stages. The pandemic caused many of these shake-ups, particularly the Great Resignation, where millions of Americans resigned from their jobs and moved to companies with better pay or culture. Although these events are in the rearview mirror, American workers and companies looking
Some of the world’s largest banks and financial institutions are cutting their head counts to tighten budgets amid uncertain economic times, and the phenomenon has hit New Jersey. Data from state filings showed that five financial institutions announced New Jersey layoffs so far in 2024: The Bank of New York Mellon Corporation, TD Bank, Prudential
My generation has a political problem. We gravitate toward quick fixes for massive problems that plague our country. The generation raised on instant gratification, to little surprise, is looking for the same in politics and government. On no other issue is this more apparent than the student loan crisis. Rather than targeting the root of
Pressure at regional banks, a continuing downturn in U.S. office prices and elevated interest rates have money managers piling back into bearish wagers on one of their favorite sectors: commercial property. Data center real estate investment trust Equinix Inc. slumped to the lowest since January on Wednesday after Hindenburg Research said it was betting against