| here. It only goes back to 1990, but already shows my lack of information.
The Federal Funds rate was as high as 8.00% in 1990. Now, the only comparison I can provide on how that relates to bank savings rates is that in 2006, when I took out a couple of "jumbo" CDs, the Fed rate was 5.00-5.25%. The interest on my CDs was about 0.25-0.50% above that. I don't know if that relationship remains throughout all economic conditions, and it varies highly from bank to bank; that was the highest rate I could find from anything close to a major bank on Bankrate at the time.
Again, do scads of research, and ask a real banker who has a few decades in the business what they think before you leap. I'd hate for my off-the-cuff uninformed opinion to cost you money. |
