Marc A. Wojno
Senior Banking Editor at Bankrate
I'm a senior editor for @Bankrate and member of the National Press Club by day, filmmaker, art connoisseur, music and aviation enthusiast by night.
Articles
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3 days ago |
bankrate.com | Marcos Cabello |Marc A. Wojno
Inflation rose slightly in May, making it more likely that the Federal Reserve will hold interest rates steady at its upcoming meeting. Multiple banks are offering a top-tier APY of 4.30% — giving savers plenty of competitive options despite recent dips. Now is still a favorable time to open a high-yield savings account, as the Federal Reserve continues to hold interest rates steady, though future Fed rate cuts could lead to lower returns down the line.
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1 week ago |
bankrate.com | Karen Bennett |Marc A. Wojno
The best high-yield savings account rate has decreased slightly and is now 4.30 percent APY among those monitored by Bankrate’s editorial staff. For savers, one bright spot amid prevailing economic uncertainty is that high-yield savings account rates remain elevated, with many outpacing the rate of inflation. Officials are widely expected to leave the Federal Reserve’s benchmark rate unchanged next week, which could help preserve high APYs on many savings accounts.
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2 weeks ago |
bankrate.com | Sheiresa McRae Ngo |Marc A. Wojno
The Federal Reserve’s next Federal Open Market Committee (FOMC) meeting will be held on June 17-18, where the Fed will decide whether to raise or maintain its benchmark federal funds rate. The upcoming Fed meeting will determine which way yields are headed, but officials are already indicating that the Fed’s benchmark interest rate range will remain steady. The top yielding high-yield savings rate remains 4.40 percent APY (Openbank).
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2 weeks ago |
bankrate.com | Matthew Goldberg |Chris Kahn |Marc A. Wojno
Budgeting is the financial equivalent of eating your vegetables. It may seem unpleasant, even grueling, but it’s ultimately good for your financial health. Budgeting is also unpopular. Bankrate’s latest Money and Mental Health Survey shows that less than one-third (29 percent) of Americans reviewed their budget during a 30-day period between mid-February and mid-March.
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3 weeks ago |
bankrate.com | Marcos Cabello |Marc A. Wojno
High-yield savings accounts continue offering strong APYs above 4 percent. Moody’s credit rating downgrades of the U.S. government and a handful of major banks may fuel a Federal Reserve decision to keep rates unchanged in June. At least one Fed official is leaning toward just one rate cut this year at this point in time. It has become clear that annual percentage yields (APYs) are one of the few winners of today’s uncertain economy.
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