Amidst the most recent Bureau of Labor Statistics data showing prices rising at 3.2% per year, the Federal Reserve held rates steady at its March 2024 meeting. While inflation isn't nearly as hot as it was recently, it's remained stubbornly above the Fed's 2% target.
'That should be a typo, but it's not. The fact is that most Americans are earning closer to zero than the Fed target rate,' says Lane. 'If you do just one thing to meaningfully improve your financial situation this year, it's this: Move your cash to a high-yielding, FDIC-insured account. The time and effort are minimal, and it's basically free money.'Get started with a top high-yield savings account online today.
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