The Silver Lining of Inflation: You Can Make Money From Your Savings Again

Higher interest rates mean higher borrowing costs for consumers. But they are finally able to earn money from their savings in return.

The Federal Reserve has raised interest rates several times since March in its bid to combat high inflation and signaled that further increases are likely. Banks, in response, have gradually raised the rates they pay consumers on products like certificates of deposit and savings accounts, which plunged early in the pandemic.


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