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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.
While some of the biggest national banks like Chase and Bank of America offer interest rates as low as 0.01%, several high-yield savings accounts (HYSAs) feature APYs of 5.00% or more.
Truth is, you can still find yields of up to 5.50% APY at digital banks and online accounts positioned to rescue your nest egg from the low rates of return you'll find at most neighborhood and ...
1. Boost your interest income with a high-yield savings account. While the Fed is likely to cut interest rates soon, there’s still time to maximize the passive income you earn by opening a high ...
Yahia Barakah. Updated September 18, 2024 at 2:09 PM. The Fed rate cut: 5 ways lower rates will affect your wallet (Manuel Augusto Moreno via Getty Images) The Federal Reserve shook things up this ...
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 4% APY.
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