Why You Don't Feel Fed Rate Hikes in Your Savings Account

The video discusses the challenges faced by savers, especially those on fixed incomes, as Fed rate hikes do not significantly benefit savings accounts. It explores the impact of these hikes on loans and credit, noting that while auto loans remain competitive, credit card rates are rising. The video also highlights the lack of competition among big banks for deposits, despite some smaller banks offering better rates. It suggests that consumer behavior, such as moving money to online accounts, could influence bank competition and rates.

What are the implications of banks not needing to compete for deposits?

What might cause American consumers to start moving their money to online accounts?