5% Savings Rates GONE! What Trump’s Fed Pick Means for YOUR Money in 2026!
Can you believe the national average savings account interest rate is a mere 0.39%, and it's set to fall further? After peaking around 5%, savings rates are now plummeting due to the Federal Reserve's recent rate cuts aimed at cooling inflation. While some Fed members advocate holding rates steady, a significant shift in monetary policy could occur if President Trump nominates Kevin Hassett, an interest rate dove, to replace Jerome Powell as Fed chair next year. This leadership change could accelerate rate cuts to stimulate a lagging labor market, despite inflation concerns. To protect your earnings from these declining rates, consider locking in higher, fixed returns with Certificates of Deposit, or CDs, and even building a CD ladder for added liquidity. Subscribe to our channel for more critical financial updates and strategies to help you navigate these changes.
Tags/Hashtags: #inflation #cds
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