The Clark Howard Podcast 03.04.26 How Interest Rates Are Set / Name Brand Foods Cut Prices
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Mar 4, 2026 Clear breakdown of why savings, credit cards, auto loans and mortgages carry different interest rates. Discussion of the K-shaped economy and how flood of deposits is pushing down savings returns. Warnings about the convenience trap that can cost you on loans. Coverage of big-name food brands cutting snack prices as store brands rise.
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Why Savings Rates Have Fallen
- Savings and CDs have lower rates because record-high deposits increased supply of loanable funds.
- Clark Howard ties this to a "K-shaped" economy where wealthier households parked more cash into savings, pushing yields down.
Big Bank Convenience Lowers Your Returns
- Big national banks pay near-zero savings rates because customers prioritize convenience over return.
- Clark Howard calls out Chase, Citi, Wells Fargo and Bank of America for offering tiny yields despite market changes.
Why Credit Card Rates Stay High
- Credit card rates stay high because many consumers don't track card APRs and believe they'll pay balances in full.
- Clark Howard notes credit unions advertise lower APRs and average CU card rates are about half bank rates.