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Over the past year the Federal Reserve has cut interest rates several times, decreasing the Fed Funds rate from 5.25% to 1.00% at its most recent meeting. This has lead to a decrease in the interest rates on many high-yield checking accounts. Savers currently have very few options in order to earn some interest on their extra cash - open high-yield accounts at places that offer a competitive yield and get a bonus or put their money in a rewards checking account.
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