Goldman Sachs, preceded by Capital One and American Express Bank out of the 60 largest financial institutions in the US by deposits, paid the highest annual interest to depositors in the last decade.
Due to high inflation and low interest rates offered by the largest banks, depositors lost $3.54 trillion in purchasing power on their savings in the last decade.
Average rates and total purchasing power loss 2013-2022
Interest | Inflation | Federal Funds | Purchasing Power |
---|---|---|---|
0.41% | 2.7% | 0.86% | ↓ -3.54T |