Claims extracted
24
sentences that state something as happening or true
Uncertain
29%
7 of 24 hedged
("reportedly", "may", "according to")
Leaning
not political
takes no side on a contested political question
Publisher signals
66/100
CBS News's corrections and
hedging, across everything collected from it. Not a measure of accuracy.
Outlets on this story
56
Economy/Business
Same framing elsewhere
1
articles that frame the event the way this one does
At a nearly 90% likelihood as of Monday, the Federal Reserve is poised to issue its first interest rate hike since 2023 when it wraps its next meeting on September 16.
asserted
it → poise → September
According to the CME Group's FedWatch tool, there's a significant chance that the central bank will increase its benchmark interest rate by 25 basis points to a range between 3.75% and 4.00%.
uncertain
bank → accord → %
That will further push affordable borrowing options out of reach for those looking to buy a home, refinance their current one or use a personal loan or credit card.
asserted
That → push → loan
It can, however, be a boost for savers who know how to take advantage of a once-again rising interest rate environment.
asserted
who → know → environment
They won't be able to do so by keeping their funds in a average interest rate of 0.38% there, savers not only aren't keeping pace with , which has stalled above the Fed's goal as of the most recent reporting, but they're essentially leaving interest earnings unclaimed by not leveraging alternative account types instead.
asserted
they → do → types
With a Fed rate hike looming, then, where should these savers actually consider moving their money to?
asserted
savers → loom → money
Below, we'll outline three specific, lucrative account types to consider.
asserted
we → outline → types
With anWhere you should keep your money if the Fed raises interest rates
asserted
Fed → keep → rates
The following three savings account types merit serious consideration now that the Fed is set to raise rates again.
asserted
Fed → merit → rates
These can work in conjunction with each other or individually, but all three offer viable ways for savers to earn more on their money right away:
asserted
savers → work → money
CD rates may rise slightly if the Fed does proceed with a hike this month, making them even more profitable accounts than they already are., too, meaning that you'll be able to budget with precision by knowing exactly how much you'll earn once the account has matured.
uncertain
account → rise → much
Still, it's important to only deposit an amount you can see through to the maturity date.
asserted
you → deposit → date
Withdraw it prematurely and you'll get stuck paying a costly early withdrawal penalty that could bring you right back to where you started.
uncertain
you → withdraw → you
A high-yield savings account
If you want to earn an interest rate over 4% now and want to be positioned to exploit additional Fed rate hikes ahead, a
could be worth opening.
uncertain
you → want → hikes
While rates here may be slightly below the top CD ones now, that dynamic could change as the high-yield savings account employs variable rates that will be responsive to market conditions and Fed adjustments.
uncertain
that → change → conditions
The CD rate, however, will remain fixed no matter what happens.
asserted
what → remain → ?
In other words, if you want to maintain accessibility and want to be in a position to earn potentially higher interest rates in the future, a high-yield savings account could be the right choice right now.
uncertain
account → want → future
A money market account
A
generally comes with the lowest interest rate of these three options, topping out at or right below 4% currently.
asserted
account → come → %
But that rate is also variable and likely to increase in the days and weeks ahead.
asserted
rate → increase → days
And the account offers something that the other two on this list do not – the ability to write checks, too, thus streamlining your banking needs with a single account.
asserted
two → offer → account
If you want to earn one of today's top rates, then, want to take advantage of other rate hikes ahead and want to do so without toggling back and forth among multiple account types, a money market account could be the right one for you.
uncertain
account → want → you
The bottom line
An interest rate environment that's heating up again will need to be approached strategically by both savers and borrowers.
asserted
that → heat → savers
For the former type, that means taking advantage with select savings vehicles like CDs, high-yield savings and money market accounts.
asserted
that → mean → CDs
Different banks will offer different rates and you can improve your chances of finding the most profitable option by reviewing accounts via an online marketplace that will list all of the relevant information you need to complete an informed analysis.
asserted
you → offer → analysis
The Aporia
