4 of the best places for cash as the Federal Reserve weighs a pause in interest rate hikes

4 of the best places for cash as the Federal Reserve weighs a pause in interest rate hikes  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  VIEW IN BROWSER | SUBSCRIBE WED, MAY 10, 2023 YOUR WEALTH Editor's Note The Federal Reserve's spate of interest rate hikes has had a silver lining for savers, who are currently seeing better yields on savings accounts, certificates of deposits, and other products. That may be short lived. The Fed indicated it is weighing a pause on rate increases, and some experts are predicting cuts could be on the agenda as soon as late 2023. In other words, we could be at or near peak on some savings product rates in the current cycle. One easy place to look for a better return on cash: high-yield savings accounts. While the average savings account rate is still below 0.5%, some of the top high-yield online savings accounts are paying over 4%, as of early May. Many savers aren't making the most of those higher yields. Only 22% are earning interest of 3% or more on savings, according to a recent Bankrate survey. Check out reporter Kate Dore's article, below, for three more smart options for cash and how to best lock in high rates. For more advice to help you make smart financial decisions, check out CNBC's Financial Advisor Hub and Personal Finance section. To listen to the latest edition of the PF team's weekly Twitter Space, "This Week, Your Wallet," click here. Kelli Grant, CFP | Deputy Personal Finance Editor @KELLIGRANT 4 of the best places for cash as the Federal Reserve weighs a pause in interest rate hikes Here are four of the best options for cash as the Federal Reserve raises interest rates and weighs a future pause. Here's what the looming debt ceiling crisis means for your portfolio Many investors are bracing for the economic fallout of the deadline for the U.S. to raise the debt ceiling or default on its obligations. Here's what to expect. This MIT economist helps decide when recessions officially begin and end. Here's why those dates matter As the president of the National Bureau of Economic Research, MIT economist James Poterba helps determine when a recession officially starts and ends. If Supreme Court affirms Biden student loan forgiveness plan, some college 'stopouts' may reenroll The Supreme Court's decision on student loan forgiveness could bring back students who started college but never finished, a new report says. The No. 1 danger of not talking about money with your partner, according to Showtime therapist CNBC spoke with Orna Guralnik, psychoanalyst on Showtime series "Couples Therapy," about the biggest money issues people face with their partners. As retirement age change sparks protests in France, here's what could happen in the U.S. Exactly when to retire is typically a personal decision. But Social Security reforms could affect how well people live based on that timing. A recession could hit single women especially hard, says financial advisor. Here's how they can prepare Inflation and a possible recession can be especially difficult for single women due to the persistence of the gender wage gap. A financial advisor has advice. TurboTax payments for $141 million settlement to begin next week. Here's who qualifies If you paid for TurboTax filing software when it should have been free, you may be eligible for part of a $141 million settlement. Here's how it works. 3 financial risk areas for consumers to watch ahead of a possible recession An economic downturn may or may not happen this year, but there are risks consumers would be wise to watch. Summer travel: How to save during a busy, expensive season It's expected to be a busy and costly summer travel season. But there are some ways to save. CONTRIBUTORS Sharon Epperson @sharon_epperson Josh Brown @ReformedBroker Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel   Digital Products Feedback Privacy Policy CNBC Events   © 2023 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS