Randy Rosen Quotes on Money & Wealth (2 Quotes)

Money market and checking account rates are more closely tied to Fed activity. Some banks are offering higher interest rates on checking and money market accounts, but these are promotional rates that are temporary and do not affect the core product interest rate.

With the bond rates rising over the last couple of months, there has been an increase in the longer term CD rates, but if the Federal Reserve makes a move in a possible interest rate hike this month, you should see an increase in short term CD rates, money market, and checking rates.