Debt & Savings
Goldman’s Marcus Drops Rate Below 4% With Fed Eyeing More Cuts
It’s the fourth time this year the yield on the popular savings accounts has been reduced as interest rates come down.
The Marcus by Goldman Sachs Group Inc. floor of the bank's headquarters in New York.
Photographer: Christopher Goodney/BloombergThis article is for subscribers only.
Goldman Sachs Group Inc.’s consumer bank Marcus cut the rate on its high-yield savings accounts below 4% for the first time since May 2023.
Marcus now offers 3.9% on the popular accounts, down from 4.1%. It was fourth reduction this year and comes as the Federal Reserve eyes another cut in its benchmark rate at a meeting later this month.