The Federal Reserve and Fed Chief Ben Bernanke surprised Wall Street by announcing the Fed would not reduce its stimulus purchases to boost the economy. Because mortgage rates had surged in anticipation of a Fed move, Wednesday's announcement could send mortgage rates down and give the housing market a big bounce.
The federal deficit is falling, but could begin to nudge upward again in 2015, according to CBO data. That means trimming the deficit is important but not urgent, the CBO chief said Wednesday.
With CD interest rates barely above regular savings account averages, Trent Hamm cautions that certificate of deposit savings programs may not be worth the incentives.