After the Fed Meeting, Seven High-Yield Savings Accounts Worth Your While
At their June meeting, the FOMC decided to refrain from rate cuts, giving savers more time to earn a great rate.

The Federal Reserve met this week and refrained from changing the federal funds rate, citing an increased uncertainty on the economic outlook as reason for the wait and see approach.
After ending 2024 with three consecutive rate cuts, the Fed has refrained from making rate cuts for the first four meetings of 2025. It also gives savers some breathing room...at least for now.
However, that doesn't negate the fact that inflation continues to place stress on budgets. Core inflation is around 2.8%. While lower than anticipated, the recent CPI report didn't include how tariffs will influence the data.
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.

Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Bankrate's chief financial analyst Greg McBride remarks, "The Fed statement noted the risks of both higher unemployment and higher inflation have increased. How the data unfold in the coming months will dictate the Fed’s path. It’s going to be an interesting summer.”
How to cushion inflation
While you might not be able to withstand inflation's impacts directly, there are ways to cushion your money to reduce its effect. And one of the best options is high-yield savings accounts. McBride adds, "Savers will continue to enjoy returns that outpace inflation if the money is parked in the most competitive savings accounts."
A high-yield savings account allows you to earn a high rate of return. Unlike certificates of deposit, you can add money to these savings accounts at any time.
And you can withdraw or transfer those funds when you need them. Just be careful of any minimum balance requirements that might apply or else your monthly fee might offset the interest earned.
Using this tool from Bankrate, you can see how rates currently measure up:
There are other considerations with a high-yield savings account. Chief among them is they come with variable interest rates. If the Fed decides to cut rates in the future, your savings rates can drop too.
In the meantime, if you're looking for a flexible way to save money, it's hard to beat the rates offered. Here are some of the top high-yield savings accounts we recommend:
Account | APY | Min. opening deposit |
---|---|---|
4.35% | $0 | |
4.30% | $100 | |
4.30% | $500 | |
4.25% | $0 | |
4.25% | $100 | |
4.25% | $1,000 | |
4.25% | $5,000 |
Use budgeting apps to meet savings goals
Sometimes, a fresh perspective on where your money goes helps you identify spending patterns, and with them, opportunities for more savings. Some of our favorite budgeting apps are easy to use, affordable and can help you meet your savings goals.
One of the easiest to use is Quicken's Simplifi.
Along with tracking your expenses, the app can anticipate future cash flow, giving you a proactive perspective on your finances. This allows you to adjust your spending to meet your saving goals.
The bottom line
The Fed held steady and refrained from cutting rates at their current meeting. This is great news for savers, as it means you can still secure a higher rate of return.
Against inflation, high-yield savings accounts can help, as they offer a higher rate of return that cushions your finances some from it.
Related content
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

Sean is a veteran personal finance writer, with over 10 years of experience. He's written finance guides on insurance, savings, travel and more for CNET, Bankrate and GOBankingRates.
-
Small Businesses Are Racing to Use AI
The Kiplinger Letter Spurred on by competitive pressures, small businesses are racing to adopt AI. A recent snapshot shows the technology’s day-to-day uses.
-
The Me-First Rule of Retirement Spending
Follow the 'Me-First" rule and you won't have to worry about running out of money when the stock market goes south.
-
How to Plan Your First International Trip After Retirement
Retirement paves the way for a world of exciting (and intimidating) experiences. An overseas journey can be an ideal way to embrace this new phase of life.
-
My First $1 Million: Retired Magazine Editor, 70, Boise, Idaho
Ever wonder how someone who's made a million dollars or more did it? Kiplinger's My First $1 Million series uncovers the answers.
-
From Mortgages to Taxes to Estates: How to Prepare for Falling Interest Rates
As speculation grows that the Federal Reserve will soon start lowering interest rates, now is a good time to review your financial plans for housing, estate, taxes, investing and retirement to make the most of potential changes.
-
This Is How Lottery Winners Build Lasting Legacies, From a Financial Professional
Winning a massive lottery jackpot, like the recent $1.4 billion Powerball, requires seeking immediate legal and financial counsel, protecting your identity and winnings and planning your legacy.
-
Is It Worth Upgrading to the iPhone 17?
The iPhone 17 is here. Learn what's new, where the best deals are and whether it's worth the switch.
-
I'm an Investment Strategist: This Is How the Fed's Next Rate Move Could Impact Your Wallet
Interest rate cuts might be coming, which could affect everything from your credit card debt to your mortgage. It's smart to prepare now — here's how.
-
Seven Surprising Reasons Retirees Are Going Back to Work
Sure, money is a big reason to come out of retirement, but it's not the only reason retirees are doing it.
-
US Increasing ESTA Fee to Nearly Double Starting in September
New fee structure hikes ESTA from $21 to $40, adding a new layer to visitor costs under the One Big Beautiful Bill.