Updated June 16, 2022 9:42 am ET / Original June 16, 2022 3:00 am ET
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Barron’s Staff Illustration; (Reference) Dreamstime (2)
Inflation is stubbornly high and interest rates on savings accounts aren’t anywhere close to keeping pace. While the yield on a two-year Treasury is now 3.28%, up from just 0.17% a year ago, the average savings account is barely in positive territory at just 0.07%, according to personal-finance website Bankrate.
For investors hanging onto cash, whether for emergency savings or other uses, it’s a frustrating situation. The annual inflation rate, as measured by the consumer price index, is up to 8.6%, which means the purchasing…