Marcus and Ally Cut Savings Account Interest Rates

While the Fed kept interest rates steady at their meeting this month both Marcus and Ally Financial have decided to cut interest rates on their savings accounts; the cut is small, just 10 basis points, Marcus going to 2.15% from 2.25% and Ally going to 2.1% from 2.2%; they clearly expect the Fed to cut interest rates soon and are moving preemptively; Marcus suggested that concerned customers could explore their high-yield certificates of deposit. Source.

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