{
  "id": 6318382,
  "title": "2 savings accounts to consider if the Fed raises rates this September (and one to avoid)",
  "url": "https://urgent.news/2026/09/08/2-savings-accounts-to-consider-if-the-fed-raises-rates-this-september",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-08T19:25:47.000Z",
  "source": {
    "name": "CBS News",
    "slug": "cbs-news",
    "url": "https://www.cbsnews.com/news/savings-accounts-consider-fed-raises-rates-september-2026/"
  },
  "original_language": "en",
  "account": "As the Federal Reserve inches closer to a possible interest rate increase in September, savers are encouraged to carefully consider two specific savings accounts that could yield higher returns. A high-yield savings account currently boasts a variable rate around 4.10%, making it a potentially lucrative option. With the Fed's rate hike potentially increasing returns, this type of account may see a slight increase in interest, even if the official hike is not yet announced. This account is primarily available through online banks, but researching your options online could lead to significant savings. Additionally, a money market account is another option to consider, offering a variable rate of 4.00% in early September, which could potentially rise in line with Federal Reserve rate hikes. This account also provides the added benefit of check-writing capabilities for those who wish to save and pay expenses from a single account. However, traditional savings accounts are currently offering a meager 0.38% interest rate, making them an unfavorable choice when compared to the 4% rates offered by the more profitable alternatives. In summary, savers are advised to evaluate high-yield and money market accounts, particularly if the Federal Reserve raises interest rates by the end of their September 16 meeting. Traditional savings accounts, on the other hand, are not recommended due to their significantly lower interest rates and lack of potential for growth.",
  "summary": "Not every savings account will be well-positioned to take advantage of a potential Fed rate hike later this month.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}