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How would interest rate cuts affect your high-yield savings account?

by Samantha Fields

Apr 2, 2024

With the Federal Reserve signaling it plans to cut rates up to three times this year, interest payments, and interest charges, are likely to drop.

While there are upsides for consumers when interest rates come down, high-yield savings accounts will likely offer lower rates too. Above, Federal Reserve Chair Jerome Powell.

Chip Somodevilla/Getty Images

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