Articles under “federal funds rate”

Ally and Marcus Lowered Interest Rates During The Same Week The Wealthfront Cash Account APY Increased: Here’s Why That Might’ve Happened

Two popular banks offering high-interest savings accounts — Goldman Sachs’s Marcus and Ally Bank — cut their interest rates by 0.1% to 2.15% and 2.1% respectively within 48 hours of Wealthfront’s cash APY going up again. So why did this happen?

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How the Fed Funds Rate Impacts the Wealthfront Cash Account

The fed funds rate influences nearly every financial institution, and a rate decrease directly impacts consumers. When the rate goes down, high yield savings account rates go down, too.

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