American savers are missing out – because bank interest rates are trailing the Fed's benchmark by a record amount

• Banks are struggling to keep up with the Federal Reserve's rapid interest rate hikes, the New York Fed found. 
• That means there's a record gap between the rates they offer customers on deposits and the Fed's benchmark.
• That's helped drive a big outflow of deposits from banks to money-market funds, economists said.

American savers aren't seeing much benefit from the Federal Reserve's year of aggressively raising interest rates yet, going by new research by the New York Fed.