A drop to 4.58% APY makes Thread Bank no longer appealing for parking reserves. I can still get 5.31% at other online banks and the the spread in now too big to ignore. Bring it back to 5% or better or you could loose customers on the banking side.
@gojr69 with the 0.5% rate cut, I expect a lot of banks to be lowering their savings rates over the next several weeks. I’m personally not going to be concerned with a few dollars in a sweep account.
-Tom