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August 19, 2019

Fed's rate cuts strike savers' pocketbooks

By KEN SWEET
AP Business Writer

NEW YORK — Just when bank customers were finally getting something reasonable for their hard-earned savings, the party is coming to an end.

After several years of increasing the meager interest they paid on savings accounts and certificates of deposit, banks are starting to trim their offerings to savers. The declines are slight, usually less than 0.25 of a percentage point, but the trend is certain to continue for at least the next six months to a year, experts say.


 
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