Is it possible for interest rates of high interest savings accounts to rise again?

The Fed held interest rate near zero and the rate is expected to remain near zero through 2021. This is to stimulate the economy and encourage businesses to borrow.

On the consumer front, you will expect lower interest on savings account and also lower interest on loans that you undertake. This will likely affect Singapore too as the US Federal Reserve rate has a strong correlation with the Singapore Interbank Offered Rate(SIBOR). Banks in Singapore will take reference from the SIBOR to determine interest rates.

Therefore, we'll likely see interest rates to be depressed at least through 2021.

We won’t know what will happen in the future.

We can only adapt and look for the next best thing in investing and as well in life too.

Being too focused on or emotionally affected by things that you cannot change/control is not helpful during the pursuit of your goals and might result in opportunity costs.