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Why Your Bank’s Savings Rate Isn’t Increasing With the Fed’s | WSJ

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The Federal Reserve’s interest rate continues to climb, reaching nearly 4% in November. But the average savings account’s interest rate is just 0.16%. Here’s how banks determine that rate — and which accounts are paying closer to the Fed’s.

Illustration: Adele Morgan

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Category
Television
Tags
bank savings rate, fed rates, fed rate hike
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