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Marketplace for transaction like deposit products, money market mutual funds, cds, certain high yield savings accounts, they are offering very competitive rates. one of the reasons banks are able to keep their rates low is because consumers are slow to re—optimise, they are slow to find these opportunities. but they are certainly out there. and so i think the first step is for consumers to make sure that they're doing what they want to do with their money and that they're aware of the opportunity costs that they are paying by staying in the account that they currently in. matthew plosser fro...

So, if you look at the marketplace for transaction—like deposit products, money market mutual funds, cds, certain high—yield savings accounts, they're offering very competitive rates. one of the reasons banks are able to keep their rates low is because consumers are slow to re—optimise, they're slow to find these opportunities. but they're certainly already out there. and so, i think the first step is for consumers to make sure that they're doing what they want to do with their money and that they're aware of the opportunity costs that they're paying by staying in the account that they'r...

To find better deals. all rates were low. and, matthew, let me end on this. i'm just wondering should central banks be doing more? can they do more perhaps to force banks to increase the rates for savers? i'm not going to make a policy application here but here's what i would say — is that savers have lots of opportunities besides the bank that they currently store their deposits with. so, if you look at the marketplace for transaction like deposit products, money market mutualfunds, cds, certain high yield savings accounts, they are offering very competitive rates. one of the reasons banks ...