3 things that could make CD rates rise even higher, according to experts [CBS News]
CME Group Inc. - Class A (CME)
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Source: CBS News
The Fed Funds rate has remained unchanged currently at between 5.25% and 5.50% — and inflation was at 3.3% in May. An inflation rate in the mid-3% range is welcome after the 9.1% peak that occurred in mid-2022. However, it's still above the Federal Reserve's goal of 2%, which has, in turn, delayed rate cuts Higher interest rates have been tough on homebuyers and people with high credit card balances, but helpful for those with money in interest-yielding accounts, like certificates of deposit (CDs). The average rate on a 12-month CD is currently 1.80%, up from 0.14% in March 2021, according to the Federal Reserve . However, many banks are offering rates up to 4% to 5% or more, despite slight decreases in rates in recent months. "More and more banks are dropping rates closer to 5% and slightly below for their six- to 12-month products," says Christopher M. Naghibi, Esq., executive vice president and chief operating officer at First Foundation Bank. But while CD rates have been dropp
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News
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- CME Group Inc. (NASDAQ: CME) is now covered by analysts at Royal Bank of Canada. They set a "sector perform" rating and a $235.00 price target on the stock.MarketBeat
CME
Earnings
- 7/24/24 - Beat
CME
Sec Filings
- 9/27/24 - Form 4
- 9/18/24 - Form 4/A
- 9/17/24 - Form 4
- CME's page on the SEC website