Savers can rejoice because their deposits are finally earning interest. It’s causing trouble for almost every other sector of the market.
For much of the past 15 years, savers were used to earning little to nothing on their deposits because the Federal Reserve kept interest rates near zero. Those low rates kept funding costs at banks low. Depositors had little incentive to move their cash balances because it was unlikely that they would find a better return without taking on more risk
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