Banks offer short-term gains, minimal risk
The latest: The top rates on online bank accounts, money market mutual funds, and short-term Treasuries have slipped from last fall’s peak above 5 percent.But thanks to a cautious Federal Reserve and a murky economic outlook, they’re still hanging in at 4 to 4.5 percent, much better than the pitiful yields that prevailed for years before inflation forced the Federal Reserve to jack up borrowing costs in 2022.After slicing rates by a full point last year, the Fed has hit pause. Fed chair Jerome Powell said last week that policy...