Is Cash No Longer King? Why Your Bank Savings Could Be May’s Costliest Investment Mistake
The Federal Reserve kept its benchmark rate at 3.50%–3.75% this week as March inflation rose 3.5% year-on-year. FDIC data showed average savings account yields at 0.38%, far below inflation, while some online banks offered over 4% APY. Money-market fund assets reached $7.63 trillion. Series I savings bonds will pay 4.26% for new issues through October.