Many Americans are saving more than ever before during the pandemic, but the Federal Reserve’s long-term low rates have many wondering: Where is the best place to store cash? “We’re already seeing many of these major online banks hit all-time [interest rate] lows,” said Ken Tumin, founder and editor of DepositAccounts.com. “This shows you how severe this new environment is, how it suppresses savings accounts.”Competition...

Source: Wall Street Journal October 08, 2020 09:33 UTC