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Kiplinger
Kiplinger
Business
Erin Bendig

As Fed Raises Rates 0.25%, Savings Rates Set to Rise, Too

Interest Rates US Federal Reserve Greg McBride Inflation
Savings

The Federal Reserve raised rates again Wednesday, this time by a quarter point, bringing the federal funds rate to a target range of 4.75% to 5%. As interest rates rise, savings rates for high-yield savings accounts usually do, too. 

In fact, Greg McBride, chief financial analyst for Bankrate, noted, “Returns on savings accounts and CDs are the best in 15 years.” 

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