Bread financial, their 5 year CD was 3.90% and now it's back to 4.00% for the time being. I guess they lowered it to fast, as the fed reserve decided to keep rates at current rate.
Thoughts?
Answers
The monthly compounded annual rates for both CPI and CoreCPI exceeded 5%. To understand the trend, take a look at the graphic provided.
Anyone still think the Fed has conquered inflation?? What do you think is the neutral rate of overnight interest rates? Could it be between 4.5 and 5.5%?
#economy #FOMC #interestrates
https://www.langleyfcu.org/
I have been making 4.5% on my savings account after they dropped it down.
The early morning business news some time after 4:30 when I first turned it on said they didn't expect a rate cut if any until Dec.
There are a couple direct 5-year CD's available at 4.30%, 4.33%, with large early withdrawal penalties.
5-year Treasuries are paying higher at 4.40% today.
I don't have a real big CD due until March and I try to go long term.
I have to figure all my interest and income for 2025 before I get another one because I don't want to get caught in IRMAA. Thanks for correcting me though. I appreciate it.
Lots of company and commotion around the house since Thanksgiving and we had kind of big snow storm here last night and another one Friday or Saturday with high winds and 7 to 8 inches of WET SNOW and some freezing rain. At least if we get freezing rain it won't be as cold hopefully.
The plowers just came. I was not looking forward to taking the garbage can down the 80 foot
drive way to the road in the snow for the morning. He has been coming in the dark before the kids get on the bus.
Even in my 80's I shovel unless it is over 4-5 inches or if it is a heavy wet snow. . We have a 980 sq ft 3 car garage and across the front 32 ft. and the driveway is wide for the first 20 feet down from the doors before it starts to narrow and if the snow is too heavy for me if it deeper than 5 inches or warmer than 20º it may have a lot of water in it. For those that shovel
I did find a suncast snow pusher that is great but couldn't manage the 36 inch wide one and got the one a little smaller. It was cheaper at my grocery store or Home Depot. And the wide part of the driveway if it is deep I can divide in half and do just shovel 1/2 wide of the shove to each side of the driveway.
The best part I found out that if I turn the shovel upside down it pushes the big piles of leaves to the edge of the woods. So I can put them on a tarp and take the through the woods to the brush pile. I have a blower that blows 230 miles an hour and puts the leaves in big piles But the piles in the front and side yard can be 30 foot long and 4 foot high. I have 8 oak trees, plus the trees on the edge of the woods. Pushing them to the backyard is a lot easier that blowing them.
I am all set now for more snow and it is suppose to be the heavy wet snow that is coming tomorrow night.
I got out Monday deposited a check, paid property taxes, bought milk, bread, butter and 2 dozen eggs so should be good for 3-4 weeks or even more. Think the company will probably leave early tomrrow morning before the next storm that the news says can be bad. I have a stock pile and a full freezer.
We used to live in the country for 39 years when we built our 2nd home and when a neighbor stopped doing his dairy farm and sold the cows and I stopped working as treasure but stayed at the bank our road was not plowed early as early. The chairman on the road commission was one of my customers at the bank and he alway made sure my end of the road was plowed before 7 and the other end by 6 for the big milk trucks. One big storm we were snowed in for 6 weeks before I went to work and the road commission had to get the big V bottom plows from up north along with a road contractors big front end loaders and dump trucks to dig out our road. They dumped the snow in the river in town behind the take out store so they would not break the fences dumping the snow. My husband took our oldest son on a snowmobile the 6 1/2 miles to town get bread, toilet paper and dog food and no toilet paper or bread anyplace in town even at the takeout stores, or the liquor stores. They brought home on the snomobile 25 lbs of dog food and a 25 lb bag of flour. Good thing I had a lot of yeast in the house.
At least we didn't lose electric but a telephone pole was leaning and I called Consumers and they replaced the pole without any of us losing electric. My husband built a wood boiler that hooked up to the oil boiler in the basement and the water circulated the 4 zones in the house and we needed electric for the circulating pump. I just told them to warn us if we were going to lose electric so we could use the tongs to take out the wood and put it in our metal buckets. With that high wind they got in the road, got a pole in and replaced it without anyone losing electric. Amazing guys.
I used to bake 10 loaves a week before I went to work. 4 loaves on Monday and 4 on Thursday, even braided french bread and made two more loaves early Sunday morning with raison & cinnamon until summer. We did not have air conditioning with hot water heat. Now they have the little wall ones that both heat and have air conditioning.
The girls on my golf team wanted me to bake them bread for display after they saw mine. If you paint bread with egg whites they will be shiny after baked, let them cool and then cook them again for 8 hours at 200 to 250 they will get hard and you can put bows on them for the kitchen counter for decoration. They used to sell them for $30 to $50, I think it was at Pier One. The braided french bread cost more if you had to buy them.
We had a 700 foot paved driveway until we moved to
town. I only shoveled it twice when my husband couldn't
do it anymore but I also got frozen shoulder. I couldn't manage
the ATV with the blade, or the Oliver tractor or the John Deere front end loader with a blade. When the plower didn't make it to the house my boss would put chains on her truck tires and come down our road. I would meet her at the end of the driveway. She said she could do without a lot of the workers but 2 of us she needed in the bank. The 3 of could do it. I worked 2 jobs for 23 years one as township treasurer for 23 years and worked at the bank for 30. My husband was put on 100% disability 10 years after an auto in 1984 accident. The boys were in college by that time. I also split wood on a wood splitter that my husband built for our winter heat, stack it until it dried and every Sept stacked in the garage and put it in the wood boiler he built in the garage of the house he built after work and most of it while we lived in the basement for two years and I also mowed for 5 hours a week in the summer on a Kabota with a mower on a 3 point hitch. I still walk 10,000 steps 5 days or more a week. Walk mostly in the house because I am allergic to biting and stinging insects and it is not safe in the winter.
My life is easy peasy now but still very busy and full.