Interest rates on high-yield savings accounts closely follow the federal funds rate. That is to say, rates are variable and can change multiple times per year at the whim of the Federal Reserve.  The Fed meets eight times a year and decides whether to increase, decrease, or leave interest rates untouched. If the Fed cuts rates, the APY on your savings account can drop within days. When rates are lower, you won't earn as much interest on your savings.  As the Fed has raised interest rates in the first half of 2022, savings interest rates have slowly been going up, too. Even if they were to drop, however, it's best practice to keep saving. That way, when rates inevitably do go back up, you'll be earning interest on a larger amount of principal.