About Ken Tumin

Ken Tumin founded the Bank Deals Blog in 2005 and has been passionately covering the best deposit deals ever since. He is frequently referenced by The New York Times, The Wall Street Journal, and other publications as a top expert, but he is first and foremost a fellow deal seeker and member of the wonderful community of savers that frequents DepositAccounts.


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Bank Deals Blog: Fed / Banking News

Fed Meeting Preview and Deposit Rate Forecast - Oct 25, 2023

With the next FOMC meeting just a week away, it’s time for another Fed summary with a preview of what to expect. The two-day meeting is scheduled to start on Tuesday, October 31st, with the statement released at 2:00pm EDT on Wednesday, November 1st. At 2:30pm, Fed Chair Powell’s post-meeting press conference will take place. This meeting will not include a new release of the Summary of Economic Projections (SEP).

There are no longer any expectations for a Fed rate hike next week. In speeches last week, Fed Chair Powell and...

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Fed Meeting Preview and Deposit Rate Forecast - Sep 13, 2023

With the next FOMC meeting just a week away, it’s time for another Fed summary with a preview of what to expect. The two-day meeting is scheduled to start on Tuesday, September 19th, with the statement released at 2:00pm EDT on Wednesday, September 20th. In addition, the FOMC will release an updated Summary of Economic Projections (SEP) which includes the federal funds rate dot plot. At 2:30pm, Fed Chair Powell’s post-meeting press conference will take place.

The SEP from the June 13-14 FOMC meeting suggested two more 25-bp rate hikes were...

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Fed Meeting Preview and Deposit Rate Forecast - July 19, 2023

With the next FOMC meeting just a week away, it’s time for another Fed summary with a preview of what to expect. The two-day meeting is scheduled to start on Tuesday, July 25th, with the statement released at 2:00pm EDT on Wednesday, July 26th. At 2:30pm, Fed Chair Powell’s post-meeting press conference will take place. No new Summary of Economic Projections (SEP) will be released at this meeting.

The SEP from the June 13-14 FOMC meeting suggested two more 25-bp rate hikes were likely this year. It appeared Fed Chair Powell...

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Fed Meeting Preview and Deposit Rate Forecast - June 6, 2023

With the next Fed meeting just a week away, it’s time for another Fed summary with a preview of what to expect. The two-day meeting is scheduled to start on Tuesday, June 13th, with the statement released at 2:00pm EDT on Wednesday, June 14th. In addition, the new Summary of Economic Projects (SEP) will be released which will include updated forecasts on GDP, unemployment rate, inflation, and future federal funds rates. At 2:30pm, Fed Chair Powell’s post-meeting press conference will take place.

The release of the May jobs report last Friday...

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Fed Meeting Preview and Deposit Rate Forecast - April 26, 2023

With the next Fed meeting just a week away, it’s time for another Fed summary with a preview of what to expect. The two-day meeting is scheduled to start on Tuesday, May 2nd with the statement released at 2:00pm EDT on Wednesday, May 3rd. At 2:30pm, Fed Chair Powell’s post-meeting press conference will take place. There will be no update to the Fed’s Summary of Economic Projections (SEP).

Odds are high that there will be another 25-bp rate hike. That would move the target federal funds rate (TFFR) to 5.00%-5.25%, a...

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Fed Meeting Preview and Deposit Rate Forecast - March 15, 2023

With the next Fed meeting just a week away, it’s time for another Fed summary with a preview of what to expect. The two-day meeting is scheduled to start on Tuesday, March 21st with the statement released at 2:00pm EDT on Wednesday, March 22nd. At 2:30pm, Fed Chair Powell’s post-meeting press conference will take place. This meeting will include an update to the Fed’s Summary of Economic Projections (SEP). The last SEP updates were at its December meeting.

Before this banking crisis occurred, odds of a 50-bp rate hike were high....

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Fed Meeting Preview and Deposit Rate Forecast - January 24, 2023

With the next Fed meeting just a week away, it’s time for another Fed summary with a preview of what to expect. The two-day meeting is scheduled to start on Tuesday, January 31st with the statement released at 2:00pm ET on Wednesday, February 1st. At 2:30pm, Fed Chair Powell’s post-meeting press conference will take place. There will be no update to the Fed’s Summary of Economic Projections (SEP) at this meeting. The last SEP updates were at its December meeting.

Expectations are high that the Fed will again downshift its rate...

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Federal Reserve, the Economy and CD Rate Forecast - Dec 6, 2022

With the next Fed meeting just a week away, it’s time for another Fed summary with a preview of what to expect. The two-day meeting is scheduled to start on Tuesday, December 13th with the statement released at 2:00pm ET on Wednesday, December 14th. At 2:30pm, Fed Chair Powell’s post-meeting press conference will take place. There will be an update to the Fed’s Summary of Economic Projections (SEP) at this meeting. The last SEP updates were at its September meeting.

Expectations are high that the Fed will step down their rate...

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Federal Reserve, the Economy and CD Rate Forecast - Oct 25, 2022

With the next Fed meeting just a week away, it’s time for another Fed summary with a preview of what to expect. The two-day meeting is scheduled to start on Tuesday, November 1st with the statement released at 2:00pm EDT on Wednesday, November 2nd. At 2:30pm, Fed Chair Powell’s post-meeting press conference will take place. There will be no update to the Fed’s Summary of Economic Projections (SEP) at this meeting.

Expectations are high for another 75-bp rate hike. This would be the fourth straight 75-bp rate hike since June, and...

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Federal Reserve, the Economy and CD Rate Forecast - Sep 13, 2022

With the next Fed meeting just a week away, I thought this would be a good time for another Fed summary with a preview of what to expect. The two-day meeting is scheduled to start on the 20th with the statement released at 2:00pm EDT on Wednesday the 21st. In addition, the Fed will release an update to its Summary of Economic Projections (SEP). At 2:30pm, Fed Chair Powell’s post-meeting press conference will take place.

Before today, expectations were high that the Fed would hike 75 bps. With the August CPI...

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