Money market account rates today, November 16, 2024 (best account provides 5.00% APY)
Written by Emily J. Thompson, Senior Investment Analyst
Source: Yahoo Finance
Updated: Nov 16 20240mins
Federal Reserve Rate Changes: The Federal Reserve raised its benchmark rate 11 times between March 2022 and July 2023 to combat inflation, but recently cut the rate, leading to a decline in money market account (MMA) interest rates from an average of 0.64% down from higher levels.
Current Money Market Account Rates: Some top money market accounts are currently offering rates as high as 5% APY, making it advantageous for consumers to compare rates and consider opening accounts to maximize their earnings before rates potentially drop further.
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Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
