Why Your Bank’s Savings Rate Isn’t Increasing With the Fed’s | WSJ


The Federal Reserve’s interest rate continues to climb, reaching nearly 4% in November. But the average savings account’s interest rate is just 0.16%. Here’s how banks determine that rate — and which accounts are paying closer to the Fed’s.

Illustration: Adele Morgan

#Fed #InterestRates #WSJ

Keith Jacobs

Keith Jacobs

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