High-Yield Money Market Accounts Offer Up to 4.01% APY Amid Fed Rate Pause

Yields on top-tier money market accounts reached 4.01% APY on Friday, June 5, 2026, even as the Federal Reserve held its benchmark interest rate steady, preventing deposit rates from rising. The central bank has left rates unchanged so far in 2026 after cutting them three times each in 2024 and 2025. The national average money market account rate stands at just 0.57%, according to the Federal Deposit Insurance Corp. (FDIC). That means the best offers—primarily from online banks and credit unions—pay more than six times the national average. These institutions can pass on savings from lower overhead costs in the form of higher yields. Savers seeking to maximize returns have flocked to these accounts for short-term goals, as they remain FDIC-insured up to $250,000 and offer liquidity superior to certificates of deposit. With the Fed on hold and inflation still above target, competition for deposits has kept high-yield options above 4%.