That's the "wholesale" savings interest rate. The less you are making compared to that, the more your bank is profiting.
As an aside, the interest the banks earn from this is newly created money.
With 17 trillion dollars currently deposited, that's $833 billion of inflationary pressure every year.
[0] https://www.federalreserve.gov/monetarypolicy/reserve-balanc... [1] https://fred.stlouisfed.org/series/DPSACBW027SBOG
> With 17 trillion dollars currently deposited, that's $833 billion of inflationary pressure every year.
specifically, this part, what do you mean by pressure and which way is it pushing
> that's $833 billion of inflationary pressure every year.
That's the "wholesale" savings interest rate. The less you are making compared to that, the more your bank is profiting.
As an aside, the interest the banks earn from this is newly created money.
With 17 trillion dollars currently deposited, that's $833 billion of inflationary pressure every year.
[0] https://www.federalreserve.gov/monetarypolicy/reserve-balanc... [1] https://fred.stlouisfed.org/series/DPSACBW027SBOG