The Fed raised short-term interest rates by 0.25%, the latest in a series of hikes that brought rates from zero to more than 5.25%. The best savings accounts are paying between 4.5% and nearly 5% as a result.
Here’s what FOMC decision makers’ interest rate moves mean for high-yield savings accounts, CDs and bond funds. Are savings rates and CD rates going up in 2023? And where to get the best APRs today.