Goldman Sachs Group Inc.'s consumer bank, Marcus, has recently lowered the interest rate on its high-yield savings accounts to below 4%, which is the first time it has dropped below this threshold since May 2023.
This reduction is the fourth one this year, and it coincides with the Federal Reserve's potential decision to lower its benchmark interest rate at an upcoming meeting.
As a result of these changes in interest rates, consumers may need to adjust their savings strategies accordingly.