You can think of the short term federal funds yield as a proxy for savings rate....

blobbers on March 11, 2023 | parent | context | favorite | on: What does Silicon Valley Bank’s collapse mean for ...

You can think of the short term federal funds yield as a proxy for savings rate. You deposit, Wealthfront collected 4.75% overnight, and paid you 4%. They make a tidy 0.75% as the middleman.