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How could another Fed rate hike affect savers? Here's what experts think

Por: CBS News Business July 26, 2023

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Savings accounts today already earn as much as 5% APY on balances.  BOY ANUPONG / Getty Images After pausing federal interest rate hikes in June, the Federal Reserve looks once again at its Federal Open Market Committee (FOMC) meeting this week. That would bring rates to the highest they've been in , at a target range of 5.25 to 5.50%. While that does mean the cost of borrowing money (loan, lines of credit, etc.) may soon rise again,... + full article



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