Randy Rosen Quotes (6 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.

The expectation is that, over time, interest checking and money market rates will continue to increase, especially if the Federal Reserve makes more rate increases.

The Federal Reserve raising interest rates earlier this month prompted financial institutions to slightly increase interest checking rates,

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.

For checking and money market rates the Federal Reserve is one of the main driving forces.

The bond market has an influence on the longer term CDs greater than 12 months, while the shorter term CDs, along with checking and money market accounts, are influenced more by the Federal Reserve,