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WASHINGTON, Sept. 4 (UPI) -- As the Federal Reserve Board has continued to raise short-term interest rates, returns for savers have become more attractive.
More and more people are getting certificates of deposit -- some at 4.5 percent for a one-year C.D., the New York Times reported Sunday.
Just over a year ago money markets were returning 0.7 percent, but many are inching toward 3.5 percent, while a yield of the 10-year Treasury note is 4.04 percent.
"It's the first time in a long time savers will benefit," said Jim McDonald, who manages money market funds at T. Rowe Price.
Inflation-adjusted returns for many savers for most of last year had been below zero, meaning savers were in essentially paying financial institutions to use their dollars, said McDonald.
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CANBERRA, Australia, May 23 (UPI) --
Australia has passed legislation establishing the $10 billion Clean Energy Finance Corp. to provide grants and government investment to green projects.
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AVONDALE, La., May 23 (UPI) --
The seventh amphibious transport dock being built by Huntington Ingalls Industries for the U.S. Navy has completed builder sea trials.
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The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
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What if Europe turned out to be the new Japan?
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