Updated after each Fed meeting
What the Fed’s decision means for your cash
On October 28, 2026 the Federal Reserve held its target range at 3.75%–4.00%, by a 10 to 2 vote. Two members, Lisa D. Cook and Beth M. Hammack, preferred a quarter-point increase. Next meeting: December 8–9, 2026.
What moved since the meeting
| Treasury | Day before (Oct 27) | Latest (Nov 6) | Change |
|---|---|---|---|
| 3-month bill | 4.22% | 4.19% | −0.03 pt |
| 6-month bill | 4.34% | 4.23% | −0.11 pt |
| 1-year bill | 4.50% | 4.33% | −0.17 pt |
| 2-year note | 4.70% | 4.51% | −0.19 pt |
From the U.S. Treasury’s daily par yield curve. Bank, fund and sweep rates are on the full comparison, each with the date we read it.
Lock a CD now, or keep rolling T-bills?
One number decides it. The best 1-year CD we track, CFG Bank 1-year CD at 4.65%, keeps the same after 22% federal and 5% state tax as 3-month T-bills averaging 4.35% over the next year, because T-bill interest skips state tax. They pay 4.19% today. If they average more than 4.35%, rolling bills keeps more; if less, the CD does. We don’t forecast which; this is the line to weigh it against.
Questions
What did the Fed decide at its last meeting?
On October 28, 2026 the Federal Reserve held its target range for the federal funds rate at 3.75% to 4.00%, by a vote of 10 to 2. Two members, Lisa D. Cook and Beth M. Hammack, preferred a quarter-point increase. The next meeting is December 8–9, 2026.
Should I lock in a CD now or keep rolling T-bills?
It comes down to one number. The best 1-year CD we track, CFG Bank 1-year CD at 4.65%, keeps the same after 22% federal and 5% state tax as 3-month T-bills averaging 4.35% over the next year, since T-bill interest skips state tax. 3-month bills pay 4.19% today. If you expect them to average more than 4.35%, rolling bills keeps more; less, and the CD does. We don't forecast which.
Do savings rates follow the Fed?
Usually, with a lag: online savings rates tend to move after the Fed does, and brokerage default sweeps often barely move at all. The best savings account we track pays 4.40% today.
Decision from the Fed’s statement; meeting dates from the Federal Reserve calendar. Facts and arithmetic only, never a forecast. CD rates · How to buy T-bills · Treasury ladder.