This just in: The Fed has raised rates another quarter point to 3.25 percent. The effect will ripple through the economy, which is good news for banks.

I’m looking forward to some of the banks, such as ING Direct and Emigrant Direct (where I hold my savings) raising their rates as well.

Updated February 6, 2012 and originally published June 30, 2005. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @flexo on Twitter and visit our Facebook page for more updates.

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Flexo, the founder of Consumerism Commentary, has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about him and follow him on Twitter. View all articles by Flexo.

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