Best Bank Account Interest Rates - Summary for Week Ending May 5, 2012
We had another disappointment from a key economic report this week. The Friday's job report showed that the U.S. economy added only 115,000 jobs in April. Economists had expected 165,000 jobs. This is now the second month of slower job growth, and it's a worrisome sign that the economic recovery may be faltering again. However, it's possible that this slowdown could be a form of "payback" for strong employment numbers in January and February that were boosted by mild weather. Also, economists speculate that higher energy prices "had a temporary dampening effect on hiring."
There is still not enough weak economic data for the Fed to start another round of stimulus or to extend out its late-2014 low-rate pledge. However, the chance that the Fed may start raising rates before late 2014 also... [via The Money Blog]
- Barclays Savings Account: Current Savings Rate at 1.00% (Monitorbankrates )