[civicsquid]

This was the main reason I moved my money out of a bank account early during the rate hikes.

I was waiting around for a better rate, but even when T-bills were being offered at >2% annually, banks were offering less than a percent. Even competitive savings accounts seemed sluggish. Money market funds were an easy way to get similar rates to T-bills without actually buying them myself or waiting for banks to get the message.