Reported 4 months ago
With the Federal Open Market Committee meeting approaching, understanding how the Federal Reserve's decisions impact interest rates on savings accounts and CDs is crucial in making informed financial choices. The upcoming meeting on June 11 and June 12 will determine whether the federal funds rate will change, which indirectly influences interest rates for deposit accounts. While current rates are competitive, individuals may want to consider opening a new account to benefit from high interest rates now, before potential adjustments by the Fed impact earnings.
Source: YAHOO