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The Fed Meets Tomorrow

ichaelm
  |     |   476 posts since 2010

I can never remember them meeting on Wed and Thurs. In the past, it's always been Tues and Wed. I guess they didn't want to meet on election day.

Anyway, according to the CME tipsheet that Ken always referred to, there's a 99.3% chance that they'll lower rates 25 bps, to 450-475, and a 0.7% chance that they'll leave rates untouched at 475-500. There is no chance that they lower rates more than 25 bps.That's reasonably good news for us savers.

As of today, there are still 14 banks, credit unions and fintechs paying 5% or higher with no minimums, led by PiBank at 5.50%, if you don't mind banking on your cellphone.

https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html

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ichaelm
  |     |   476 posts since 2010
UPDATE 5:26pm:      97.5% 450-475
                                    2.5% 425-450
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Ally6770
  |     |   4,307 posts since 2010
Before mail in voting and early voting many people had part of the day off to vote. Not sure about now. Actually my state allows people to take unpaid time off to vote. But many will pay employees. Some state have it as a paid holiday.
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