Top Money Market Account Yields Hold at 4.01% APY as Fed Pauses Rate Cuts

Top money market account yields remained at 4.01% APY on Monday, June 1, 2026, as the Federal Reserve held its benchmark interest rate steady through the first half of the year. The pause follows a series of cuts that began in late 2024 and continued into 2025, which pushed deposit rates below their 2023 peaks. The highest-yielding accounts, primarily from online banks and credit unions, still offer returns above 4%, far outpacing the national average of 0.57% APY, based on FDIC data. A $50,000 deposit at a 4.5% APY would generate $2,303 in annual interest, though no money market accounts currently offer 5% APY. While rates have drifted lower from their historic highs, cash management products remain attractive for investors seeking liquidity and yield. Analysts note that further Fed moves later this year will be key for future rate trajectories.