Oh yeah, we're not in a recession
For a couple of years now, I have been a good boy and saving some money in an ING Orange savings account. And of course, this isn't something that I generally look at pretty closely. All I know is that I was flying high when I first started, but when I was poking on it today, I was able to see pretty clearly how the Fed's interest rate drops have affected me:
| Sep 19, 2007 | Interest Rate Change to 4.218% (4.30% APY) |
| Nov 1, 2007 | Interest Rate Change to 4.121% (4.20% APY) |
| Dec 13, 2007 | Interest Rate Change to 4.025% (4.10% APY) |
| Jan 23, 2008 | Interest Rate Change to 3.590% (3.65% APY) |
| Feb 1, 2008 | Interest Rate Change to 3.348% (3.40% APY) |
| Mar 11, 2008 | Interest Rate Change to 3.057% (3.10% APY) |
| Mar 19, 2008 | Interest Rate Change to 2.960% (3.00% APY) |
That is a pretty swift drop of over 1.2% in the interest rate in around 6 months. I guess I'm going have to start parking my money somewhere else. :(
-Andy.