High-yield savings account rates to fall by 0.25% to 0.5% within a couple weeks of the Fed cut.
"The average interest rate on a high yield savings account reached 5.25% in August 2024 but with the FED cutting rates banks have already lowered their savings rate historically we have seen rates Fall by a qu% to a half a% within a couple weeks of a Fed cut for example during the last rate cutting cycle in 2019 the national average savings rate dropped from 2.2% to just under 1% in less than 3 months"