What's a good high-yield savings account interest rate after the Fed cut rates?

Savers can still earn a respectable return by putting some of their money into a high-yield savings account. Milan Markovic/Getty Images

High-yield savings accounts have historically offered savers two primary benefits – an elevated rate of return on their money and the flexibility to bank as they would with a traditional account.

Unlike a traditional account, with a rate comfortably under 1%, high-yield savings account rates were much higher, particularly during the high inflation/high interest rate period of recent years. At the same time, unlike a certificate of deposit (CD) account , savers could maintain access to their money as needed without having to lock it away for a set period of time.

But the interest rate climate is changing again. Not only did the Federal Reserve i