We note that the Fed Funds rate is somewhere between 3.75-4.00%; it's been going up from 0.25% in March of this year.
We also note that banks and credit unions are holding tightly to a 0.1% rate PAID to savers, unless said savings are in excess of $25K (or more) or are time deposits.
Using prime mortgage rates as a measure of comparison, there is typically a two+-point spread between rates paid to savers and rates obtained from mortgages.
Not this year!
Truly a 'finance capital' world!
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