What Would a Fed Rate Cut Mean for My High-Yield Savings Account?

This is it. Everybody’s expecting the Federal Reserve to announce a cut in borrowing rates later today, and investors have been practically jumping for joy. Savers? Not so much. The Fed’s borrowing rate has a direct (and immediate) impact on saving rates. So if you’ve got a lot of money sitting in a high-yield savings account (HYSA), you might be wondering what you can do about it. More News from Barchart Generally speaking, you should expect your interest income to shrink in line with the federal funds ...