Remember money market accounts? Rates are back up to 4.5%

The recent increase in interest rates on various types of savings products is bringing back money market accounts. If you weren’t around for their heyday in the 1970s and 1980s, when short term interest rates reached 20%, or if you’ve forgotten, this guide will get you up to speed. After all, the fed funds rate has increased from 0.25% a year ago to 4.5% today. We’ll explain what a money market account is, what kind of rates you can get today and more, so that you can decide whether to add one to your portfolio.