SUSAN TOMPOR: Fed rate cuts don't reduce high CD yields (Detroit Free Press)

Story date: 2007-10-10 12:07:07
Added on: 2007-10-10 15:00:06

Savers had fretted that higher rate CDs would disappear once the Federal Reserve cut rates. But so far, it's not a problem. "Banks are still very dependent on consumer deposits. So there is a reluctance to slam the door by cutting rates more aggressively than their competitors," said Greg McBride, senior analyst for Bankrate.com.


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