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Retail bank interest rates are typically just under the federal funds rate. The current federal funds rate is 75-100 bps, Marcus (Goldman Sachs) savings account
by quickthrowman 4y ago
Retail bank interest rates are typically just under the federal funds rate. The current federal funds rate is 75-100 bps, Marcus (Goldman Sachs) savings accounts are paying 70 bps.
- dangle1 4y agoOnline savings accounts tend to have the highest interest rates, and change their rates more quickly in response to the Fed. As above, Marcus is currently at .7%, Amex increased to .65% last week, and BrioDirect woke from a long .4% slumber to rise to 1% about 10 days ago.
- quickthrowman 4y agoBrioDirect is frontrunning the June 15th Fed meeting [0], where the FFR will (likely) increase to 125-150 bps [0]https://www.cmegroup.com/trading/interest-rates/countdown-to-fomc.html https://www.cmegroup.com/trading/interest-rates/countdown-to...
- josephcsible 4y agoMy savings account is currently paying me 1 bp.