The Federal Reserve made an "emergency" 75 bps cut in the Fed Funds rate on January 22, then followed it with a 50 bps cut at its scheduled meeting on January 30 - its largest decline of the Fed Funds rate in 8 days in more than 20 years and leading to a Fed Funds rate of 3.00%. As a result, Treasury rates and all short term products have had dramatically declining yields. Savings rates are falling dramatically and CD rates are being withdrawn constantly. Against the backdrop of significant inflation and a diminution in the real value of the dollar, Americans are increasingly pressed to try to figure out where to stash cash that preserves its value. No - this is not an endorsement of Ron Paul - it is just the facts.
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February 01, 2008
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