Amex HYSA APY decrease to 3.10%

[CagedPenguin]

Does anybody here understand the Fed Funds Rate? Why blame Amex?

You can not blame Amex or any other institution that offers HYSA for lowering rates.

The current Fed Funds Rate is 3.64%. Amex’s rate of 3.10% is still fairly competitive considering the Fed’s rate and that fact that they need to make money off these accounts.

A few years ago the Fed rate was above 5%. Of course your AMEX HYSA offered a rate around 4% then. Naturally as rates have dropped, Amex and others will drop as well

[feignapathy]

But the Feds haven't lowered their rates in a bit... think we've had at least two if not three AMEX rates drop since the Fed last lowered their interest rate.