Interest Rates Rise: Apple's New High-Yield Savings Account Leads the Way

Apple launched a new high-yield savings account offering a 4.15% annual return, attracting $1 billion in deposits in just 4 days.
The Federal Reserve increased interest rates by 0.25%, boosting rates on savings accounts and CDs but raising borrowing costs.
High-yield savings accounts and flexible CDs allow savers to benefit from rising interest rates.
Rising interest rates mean higher returns for savers but more expensive mortgages, credit cards and other loans for borrowers.
Americans have an opportunity to boost returns in a risk-free way, but must act quickly before interest rates start to fall again.