Fed will likely maintain a firm policy of low interest rates in the near term

NEW YORK, March 5, 2013 /PRNewswire/ -- RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: TST) reported today that interest rates for savings products remained the same over the previous week based on data collected from over 90,000 financial institution locations.

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CD rates have generally remained unchanged at record-low levels. The Federal Reserve has continued to keep the short-term federal funds rate at a range of zero to 0.25% since late 2008. Federal Reserve Chairman Ben Bernanke's testimony to the U.S. Senate on Feb. 26 and the House on Feb. 27 suggested that the central bank would continue to keep interest-rates low. Fed Vice Chairman Janet Yellen said Monday that she believed the balance of risks still called for highly accommodative monetary policy.

"Federal Open Market Committee minutes from the January meeting triggered concerns last month among investors as the report noted that 'many' members were considering the need to scale back purchases of longer-term Treasuries and mortgage-backed securities before the end of 2013," says Joe Deaux, TheStreet's economist. "Bernanke's testimony and Yellen's comments have led many economists and financial analysts to judge that the Fed will maintain a firm policy of low interest rates in the near term. Reiteration by Fed leaders of the need to continue easing at least through 2013 may have dispelled market concerns. Congress' decision not to act immediately on sequestration -- across-the-board spending cuts that went into effect March 1 -- signaled fiscal tightening, which likely put more pressure on the central bank to maintain monetary expansion."

NATIONAL AVERAGE RESULTS - $10K

TOP RATE ISSUERS - $10K
This is a list of issuers with top interest rates.  The issuer's Financial Strength Rating is an independent, unbiased evaluation of quarterly regulatory statements. Institutions are assigned a letter grade of A-E with "A" representing the highest rating based on a review of many aspects of financial safety including capitalization, asset quality, profitability and liquidity. For more information, visit www.weissratings.com/help/what-our-ratings-mean.aspx.  Information is believed to be accurate, but not guaranteed.

Institutions are assigned a letter grade of A-E with "A" representing the highest rating based on a review of many aspects of financial safety including capitalization, asset quality, profitability and liquidity.

For more information, visit www.weissratings.com/help/what-our-ratings-mean.aspx.  
Information is believed to be accurate, but not guaranteed.

Data is surveyed weekly with averages calculated each Monday afternoon from RateWatch's unbiased national interest rate survey of over 90,000 financial institution locations across the United States.

About RateWatch
For over 20 years, RateWatch has been the premier provider of competitive interest rate and product information to financial institutions across the United States.  Consistently providing top quality, highly relevant data RateWatch maintains the largest database in the industry with deposit, loan, and fee information monitoring over 90,000 locations. Rate surveys, product comparisons, financial strength reporting, local/regional/national averages, fee reporting, specialty reports and more are available.  To learn more about RateWatch, visit www.rate-watch.com.  RateWatch is a division of TheStreet, Inc.

About TheStreet
TheStreet, Inc. is a leading digital financial media company that distributes its content through online, social media, tablet and mobile channels. The Company's network of brands includes: TheStreet, RealMoney, RealMoney Pro, Stockpickr, Action Alerts PLUS, Options Profits, Chat on TheStreet, MainStreet and RateWatch. For more information on TheStreet's business, visit www.t.st. For financial and business news, actionable trading ideas, stock quotes and more, visit TheStreet.com, follow TheStreet on Facebook and Twitter, and access TheStreet through all major mobile and tablet platforms.  For more information on The Deal, visit www.thedeal.com.

Contact:
Erin Corcoran
TheStreet, Inc.
212-321-5566
[email protected]

SOURCE TheStreet

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