|Cash Interest Rates Got You Frustrated?
If you have turned on the news or picked up a newspaper, it is hard not to have heard all the talk about Federal Reserve Chair Jerome Powell raising interest rates to fight inflation, as well as all the predictions about how many times the Fed will raise rates and how big the raises will be in the coming months.
With short-term interest being low for such a long period of time, we have just gotten used to not really earning much interest on cash balances. What changes can be made to get our cash working for us?
So much has changed in the last six months. The interest rate on a six-month U.S. Treasury Bond was 0.43% on February 1, 2022. Since then, the rate on a six-month Treasury Bond has risen to 2.77% as of July 18th.
You may be wondering how the interest rates could rise so much in so little time, yet your bank is still paying you such a low rate of interest on your cash balance.
Get in touch with us to learn how we are dealing with this new interest rate environment and what you can do to improve the rate of return on your cash.