David Smith Provides Insights on Savings Rates in BusinessInsider

As anticipation rises ahead of the Federal Open Committee Market (FOMC) meeting on December 12 and 13, experts weigh in on the future of savings account rates. Pepperdine Graziadio faculty member and economist David Smith provides insight in BusinessInsider, suggesting that given the current economic landscape, savings account rates are likely to remain stable in the coming months. 

With over a 95% chance that rates will stay the same in December, according to the CME FedWatch Tool, Smith states "In the current environment, I expect savings account rates to remain steady over the next several months, pending further Fed action."

As the debate around interest rate cuts continues it’s important to monitor the Federal Reserve's actions for potential impacts on savings rates in 2024. For those considering high-yield savings accounts, the timing may be opportune, especially with the current variability in rates and the potential for fluctuations soon.

Read the full story here.