How far will savings rates fall if the Fed cuts rates? Here's what ...

Apr 11, 2024  · So if a high-yield savings account currently has a 5% APY, he says, that could mean savings rates would fall to 4.25% after the three expected Fed rate cuts in 2024. Find out the best savings ...


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How Far Will Savings Rates Fall If The Fed Cuts Rates? Here's What ...

1 week from now

Apr 11, 2024  · So if a high-yield savings account currently has a 5% APY, he says, that could mean savings rates would fall to 4.25% after the three expected Fed rate cuts in 2024. Find out the best savings ...

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How Far Will Rates Fall This Year On High-Yield Savings Accounts?

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Aug 29, 2024  · The best high-yield savings accounts are paying near 20-year highs—up to 5.50%. But Fed rate cuts will soon start pushing APYs lower. A first Fed rate cut is expected in …

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What A Fed Rate Cut Means For Savings - Kiplinger

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Dec 20, 2024  · After the September 18 Fed meeting, where they announced a 50 bps (0.50%) cut, Marcus dropped its savings rate to 4.25%, and in mid-October, it dropped to 4.10%, per a …

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Federal Reserve Cuts Rates: What It Means For Savings Accounts ...

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Dec 3, 2024  · Take September’s rate cut, for example: While mortgage rates did fall as the market began to expect a rate reduction was on the horizon (August rates fell from 6.74% to 6.35%), …

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What Savers Should Do Now With Interest Rates On Pause

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1 day ago  · Savers can earn exponentially more on their money by moving it from a traditional savings account, with an average interest rate of just 0.42% now, to a high-yield one with rates …

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How Much Will You Miss Out On In A High-Yield Savings Account …

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Oct 4, 2024  · If the Fed Cuts Rates Again, Savings Rates Could Drop . The best interest rate available for a high-yield savings account from a nationally available institution is 5.50% APY …

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Federal Reserve Interest Rate Cut: December 2024 - NBC News

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Dec 18, 2024  · The move, the Fed's third rate cut of the year, reduces the central bank’s target rate to between 4.25% and 4.5%. In its statement announcing the cut, the Fed now projects …

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FAQs about How far will savings rates fall if the Fed cuts rates? Here's what ... Coupon?

Will the Fed cut a percentage point this year?

A first Fed rate cut is expected in September, and it's likely that additional rate reductions will follow in November and December. Though Fed and savings account rate cuts won't move in lockstep, the two downward paths will roughly align. So if the Fed cuts a percentage point this year, the best savings account rate could also fall that far. ...

What can savvy Savers do after the Fed cuts rates?

Margarette is a NerdWallet authority on savings. Her work has been featured in USA Today and The Associated Press. See full bio. Here are ways savvy savers can react after the Fed cuts rates for the first time in four years. This includes keeping money in high-yield savings accounts and potentially locking in today’s high rates with CDs. ...

Will Fed Rate Reduction push banks to lower rates?

After holding the federal funds rate at a 23-year high for 14 months, the Fed entered a rate-reduction phase today with a sizable cut of 0.50 percentage points. Though the top high-yield savings account rate has been holding near a 20-year peak, today's rate cut will push most banks to lower their rates. ...

Why did the Federal Reserve cut rates?

The Federal Reserve voted to reduce its federal funds rate today, marking the second rate cut in a row for the central bank. After more than two years of prohibitively high rates amid stubbornly high inflation, the Fed started cutting rates in September and followed suit this month. ...

Will fed cut interest rates?

Once the Fed does cut rates, though, you can expect your bank to cut your rate too. Even so, chances are that high-yield savings accounts will still be high yield, at least for a while. “A few cuts is not going to get us anywhere near the zero-rate environment that we were in for so long,” Fedyk said. ...

What happens if the Fed cuts rates this year?

If the Fed cuts rates this year, it could have a significant impact on the savings rates offered by banks and credit unions. Getty Images ...

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