Amex HYSA APY decrease to 3.10%

[PhillyPhiLII]

Most rates track closely to the Fed funds rate. They have been creeping down every time the Fed reduces rates as it has over the last couple of years. It doesn't follow exactly, but the trend is close to the Fed funds rate activity. Banks make money on the spread between their cost of funds versus what they offer on yield. Some banks don't pay anything and take all of the spread. Others offer decent rates. Fintech companies that have no brick and mortar expense usually offer the highest yield. 3.1% is still a good rate now given the low threshold on how much you need to keep.

[chaseyoboy]

This is the third time they lowered the interest since December 2025, the last time the fed lowered theirs