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As the Fed rate rises, so do APYs on savings accounts, CDs and money market accounts — with today’s rates on the best high-yield savings accounts topping 5% APY.
The Federal Reserve announced a cut to benchmark interest rates yesterday, dropping the Fed rate by 50 basis points to a range of 4.75% to 5.00% — the first time its lowered rates since March 2020.
The interest rate on a high-yield savings account is variable, meaning it can increase or decrease with market conditions, much like a traditional savings account. And while the Federal Reserve ...
After increasing the target interest rate 11 times from March 2022 to July 2023 in an effort to combat the highest inflation in four decades coming out of the pandemic, the Federal Reserve ...
The Federal Reserve cut its federal funds rate three times in 2024, putting downward pressure on the interest banks pay you for keeping your money with them. However, several high-yield savings ...
A savings account — especially a high-yield account — might be better if you prefer easy access to your cash, plan to make regular deposits or want to take advantage of rising interest rates.
The top saving accounts from major high street banks have been revealed by money-saving expert Martin Lewis. Mr Lewis highlighted the country’s best savings accounts during his Martin Lewis ...
At the conclusion of its third rate-setting policy meeting of the year on May 1, 2024, the Federal Reserve left the federal funds target interest rate at a 23-year high of 5.25% to 5.50%, marking ...