Remember when bank deposits collected interest rates that exceeded the rate of honestly-measured inflation? Neither do I.

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A long time ago in the 1980s, banks gave high interest rates for savings due to high government interest rates. I believe I got 8% while federal rates were 13%. Today. Banks give 1% or less while federal rates are over 5.25%.

See also  Who is going to keep deposits in the banks earning .15% a year, when they can park those funds in short-duration T-Bills & make 6%?

h/t Simian_Stacker

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