Fed Rate Cut Impact
Sep 26, 2024
The Fed cut interest rates by 0.5% - the first decrease in four years.
Why Should You Care?
This rate cut is like a shot of espresso for the economy. It's designed to make borrowing cheaper and encourage spending. For small businesses like yours, this could mean:
1. Cheaper loans: Think of it as a sale on money. Now might be the time if you've been eyeing that new equipment or considering expansion.
2. More customer spending: People tend to spend more when borrowing gets cheaper. That could mean more customers walking through your door (or clicking on your website).
3. Economic growth: They aim for sustained economic growth without the hangover of high inflation.
How Does This Affect Your Holdings Account?
We're adjusting our interest rate to 4% APY because we offer you a competitive rate while staying in tune with the broader economic changes.
We're committed to helping your money work as hard as you do. We're not just here to hold your money but to help it grow. This rate change reminds us why we built Holdings: to give businesses like yours the financial tools and insights to thrive in any economic climate.
Keep an eye on your account—that new 4% will be effective today.
The Holdings Team
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© 2023-2024 Holdings Financial Technologies Inc. All rights reserved. Holdings is a financial technology company, not a bank. Banking services provided by Evolve Bank & Trust, Member FDIC
Funds deposited in your Holdings account are held by Evolve Bank & Trust, Member FDIC. The standard deposit amount is $250,000 per depositor, per insured bank, for each account ownership category. Through Evolve's Sweep Program, funds may be eligible for up to $5M in FDIC insurance. Find additional information about the Sweep Program here
²Yields, fees, and asset allocations are subject to change. While the fund aims to preserve capital and maintain liquidity, it is not FDIC insured and there can be no assurance that these objectives will be met. Please see the prospectus for full details on risks and investment objectives.