The Federal Reserve and Your Money
The U.S. central bank has lifted interest rates to a 22-year high, impacting how much you pay to borrow money and how much you earn when you save. Get advice and stay informed on what to do with your wallet.
The Fed's impact on your wallet
The latest interest rates
Every time the Federal Reserve adjusts interest rates, borrowing and savings rates move in lockstep. Compare Bankrate data to see how the latest Fed decision is impacting rates on key consumer products.
As economy slow, mortgage rates retreat
This week's HELOC news and analysis
Current credit card interest rates
Current car loan interest rates
What is the average interest rate for savings accounts?
Essential reading
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Latest Articles
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Fed leaves rates alone, says economy will ‘depend significantly on the course of the virus’
It’s unlikely that the financial and economic calamity will be reversed anytime soon.
7 min read Jul 29, 2020 -
Trump’s controversial Fed pick Shelton moves one step closer to board
Some experts fear Shelton could shake up the U.S. central bank.
4 min read Jul 21, 2020 -
What is economic stimulus and how does it work?
With all the talk around economic stimulus, here’s how it works and why it’s used.
5 min read Jul 16, 2020 -
Survey: 61% of experts see stock market underperforming over next 5 years
The devastating effects of the coronavirus won’t likely be in the rearview mirror anytime soon.
7 min read Jul 15, 2020 -
What is the Federal Reserve’s Beige Book?
Fed officials care about more than just economic data.
5 min read Jul 10, 2020 -
Negative interest rates, explained — and how they work
Would you really get paid to take out a loan?
8 min read Jul 03, 2020 -
We’re in a recession — will the stock market ever act like it?
With the market awash with cash, stocks are rising regardless of the fundamentals.
5 min read Jun 25, 2020 -
Second stimulus check and extended unemployment benefits? Here’s what aid could be on the way
A long road likely lies ahead for the economy. What stimulus might we see to help a return to normal?
7 min read Jun 18, 2020 -
Forecast survey: Fed seen as keeping rates at rock bottom through yield-curve control
The Fed will turn to new tactics that include capping yields and expanding its balance sheet.
7 min read Jun 05, 2020 -
Survey: America’s top economists expect double-digit unemployment rate into 2021
Forecasts were wide-ranging when it comes to predicting how much damage the pandemic caused.
8 min read Jun 03, 2020 -
The unemployment rate, explained – and why the coronavirus crisis has caused it to skyrocket
Joblessness has surged to catastrophic levels not seen for nearly a century.
8 min read May 08, 2020 -
Here’s what the Fed has to see before lifting interest rates from rock bottom
One of the Fed’s greatest fears is a slow and grueling economic recovery.
8 min read May 08, 2020 -
Fed expects to hold rates near zero until economy has weathered ‘severe’ virus effects
The coronavirus pandemic has brought the U.S. economy to its knees.
5 min read Apr 29, 2020 -
Federal Reserve lifts six-withdrawal limit on savings accounts
Consumers get more access to their savings at a time when they may urgently need it.
3 min read Apr 24, 2020 -
Forecast survey: Economy’s slow rebound from coronavirus free fall will keep Fed on hold until 2022
It could take years for growth and unemployment to return to where they were before the pandemic.
5 min read Apr 24, 2020 -
How the Fed is trying to rescue the economy from the coronavirus with an emergency stash of cash
It’s pushed the Fed down a new, uncharted path.
5 min read Apr 15, 2020 -
Fed drops rates to zero in emergency rate cut due to coronavirus effects
It’s the largest emergency reduction in the Fed’s more than 100-year history.
6 min read Mar 15, 2020 -
Winners and losers from the Fed’s emergency rate cut
Here’s who stands to benefit the most from plunging interest rates.
5 min read Mar 15, 2020 -
Zero interest rates: 5 ways to prepare your finances now
The economy is expected to get rougher, but there are ways to take advantage of declining rates.
4 min read Mar 15, 2020 -
Forecast survey: Expect Fed to slash interest rates near zero in 2020 to battle coronavirus fallout
The fed funds rate could quickly approach zero this year, experts said.
6 min read Mar 12, 2020
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Helpful Links
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- How to pay off credit card debt
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- Fed's interest rate history
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- Historical CD interest rates