The United States average inflation rate changes yearly and ranges from 1-3%. According to the FDIC, the average traditional savings account interest rate stands at 0.05%. At average interest rates above 0.5%, these high-yield savings accounts are a positive step in combating the enduring inflation battle. This article is one of many that discuss these accounts and their pros and cons in detail.
The problem with any savings account right now is that they offer minimal return against the very real risk of high inflation. With the worldwide stimulus put into effect this year I think it’s only a matter of when and how much versus “if”.
At this point, the “safest” monet is probably TIPS or just accepting the risk of staying in equities. A high equity distribution would have the inflation rise baked into its gains, thus nullifying it.
Still .5% for zero risk isn’t bad right now, might be good to wait out future downturn.