Randy Rosen Money Quotations

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.

While checking and money market rates have not had significant changes recently, if the Federal Reserve makes any more changes to the Federal Funds rate, we should see some movement in checking and money market rates.

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.

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.

The Federal Reserve is one of the main driving forces for rates changes on checking and money market accounts. With the Federal Reserve increasing the benchmark federal funds rate a quarter-point, I anticipate checking and money market account rates to show some movement in the coming weeks.

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