Posted 9/1/2023, 4:54:54 PM

Money market account vs. High-yield savings account: What’s the difference and which one should you choose?

High-yield savings accounts and money market accounts are similar in many ways, but the minimum deposit requirement and accessibility make them different, with money market accounts offering more flexibility and easier access to funds.

cnbc.com

Relevant topic timeline:

8/21/2023

Money market funds hit record as investors jump at 5% returns

Money market mutual funds are offering the highest interest rates in decades, attracting investors looking for higher yields with lower risk. The average interest rate of 5.15% is the highest since 1999, making money market funds a compelling option for preserving purchasing power amid rising inflation.

9/3/2023

Why wealthy customers are the 'most worrisome' for banks right now

Money-market fund assets reach new all-time high as interest rates attract investors, posing challenges for struggling banks that have seen deposit outflows.

9/12/2023

Record $5.6 Trillion Piled Into Money Market Funds as Yields Hit 5%; Stock Rally Seen if Investors Put Cash to Work

Investors are flocking to money market funds as a safe alternative to buying stocks or bonds, with the record high net assets of these funds potentially fueling a year-end stock market rally, according to Bank of America.

9/22/2023

Rising Rates: Higher Savings Yields But More Expensive Borrowing

Consumers can benefit from higher interest rates through increased savings rates, with some high-yield savings accounts now offering returns higher than the national inflation rate, providing a low-risk option for those seeking a lower-risk return.