High-yield savings accounts are offering attractive returns to some savers after the Federal Reserve hiked interest rates to the highest level in 16 years.
Carlyle Group co-founder and co-Chairman David Rubenstein unpacks his conversation with Federal Reserve Chair Jerome Powell on Tuesday and weighs in on his expectations for the U.S. economy.
For most borrowers, the higher interbank lending rate – which affects borrowing costs, including everything like home equity lines of credit, auto loans and credit cards – is bad news. Even a slightly higher rate for both can mean thousands of dollars for consumers to pay.Pedestrians walk near the U.S. Treasury Building in Washington, D.C., on Dec. 30, 2022.
Thanks to the Fed's aggressive rate-hike campaign that began more than a year ago, however, there are now far more lucrative options for savers: high-yield savings accounts. Some of the best rates are being offered by Vio Bank , BankPurely , CIBC Bank USA and Emigrant Bank . None of the banks charge a minimum fee.a new savings account in partnership with Goldman Sachs. The savings account is available to Apple Card customers and offers a yield of 4.15% with no minium deposits and no fees. The account reportedly attracted as much as $990 million in deposits in the first four days of its launch, according to a recent report from Forbes.
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