> And now with the fed rate cut the interest on cash is only 1.3%, with more cuts expected later in the year, which was the last big differentiator. I don’t see

> And now with the fed rate cut the interest on cash is only 1.3%, with more cuts expected later in the year, which was the last big differentiator. I don’t see how they don’t see massive net withdrawals going forward. This isn't really an issue because the fed rate cut impacts everyone. Other institutions will cut their interest rates as well. I know of a few banks (Canadian) that have already lowered their GIC rates. If anything, this is actually good for RH. Now instead of comparing 1.8% at RH and 1% at another Financial Institution, you're comparing 1.3% and 0.5% -- a much bigger multiple.