The Fed is about to raise interest rates. Banks probably won’t do the same for your savings account.
Banks are unlikely to pay depositors more after the Fed first lifts rates because the lenders don’t need the money
The Federal Reserve has indicated it plans to raise interest rates in 2022 in response to stubbornly high inflation. WSJ’s J.J. McCorvey explains what higher rates could mean for your finances. Photo illustration: Todd Johnson
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