AI will be a boon for savers, and a strain on banks (opens the source in a new tab)
- Ex-Rep. John Delaney and Rep. Bill Foster expect AI agent AI software that takes actions on its own, like booking, buying or moving money, not just answering questions. to sweep idle cash into the best-paying insured accounts.
- They put savers’ loss on low-rate accounts at well over $150bn a year.
- Money that can leave in seconds may strain banks; they urge regulators to test for machine-speed runs.
- $10.4tn
- US liquid deposits
- 0.38%
- average savings rate
- ~4%
- best national rates
Why it matters Your idle cash funds bank profits; software could move it for you.
Other side Higher deposit costs may come back as dearer loans, so households may not net as much.