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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Survey: Fed won’t begin cutting interest rates until 2024 as officials keep tackling inflation
Will the Fed keep interest rates too high for too long?
4 min read Oct 10, 2023 -
Survey: Despite a red-hot job market, top economists see a major slowdown in employment coming over the next year
The strong economy isn’t leading economists to rethink their job market forecasts.
4 min read Oct 10, 2023 -
Survey: Inflation could remain stuck above Fed’s 2% target until 2025
How hard will the Fed have to push to slow the economy enough?
5 min read Oct 10, 2023 -
Survey: Odds of a recession by September 2024 fall to 46%
Will a recession not wreck the economy’s party after all — or is it just late?
3 min read Oct 10, 2023 -
Top 20 strategies for CD savers
These tips can help maximize your savings using certificates of deposit.
9 min read Oct 06, 2023 -
Mortgage rate forecast October 2023: Higher for longer
Don’t expect mortgage rates to depart from the current trend, experts say.
3 min read Oct 01, 2023 -
Fed leaves interest rates unchanged, sees borrowing costs staying higher for longer
The higher rates rise, the more Fed watchers wonder: Is the Fed about done?
9 min read Sep 20, 2023 -
Americans’ expenses are rising faster than their paychecks
High inflation and interest rates are leading many Americans to rely on credit.
3 min read Sep 15, 2023 -
Wages are finally rising faster than inflation. Will Americans ever feel like it?
Americans still have a ways to go to fully recover their purchasing power.
11 min read Sep 07, 2023 -
U.S. debt downgrade means mortgages just got more expensive
The downgrade of U.S. debt created one more reason for mortgage rates to stay at a peak.
3 min read Aug 03, 2023 -
Fed hikes interest rates to 22-year high, keeps more increases on the table
The real question is: What will the Fed’s next moves be?
8 min read Jul 26, 2023 -
Younger Americans say they’d do anything from downsizing to buying a fixer-upper just for affordable housing
Hit with mounting housing woes, young people ask: Wait it out or make a sacrifice?
13 min read Jul 17, 2023 -
Survey: Economists see unemployment surging to 4.5% and sharp job growth slowdown
Experts, however, still don’t see a labor market as tough as it was during the pandemic.
5 min read Jul 12, 2023 -
Survey: Higher inflation could persist through at least 2024
While the worst of inflation may be over, the battle hasn’t yet been won.
5 min read Jul 12, 2023 -
Survey: Economists see 59% chance of a recession by July 2024
A recession hasn’t happened yet, but it’s likely still coming, economists say.
4 min read Jul 12, 2023 -
Survey: Economists predict Fed will lift rates to highest since 2001
Economists are taking the Fed at its word, penciling in more rate hikes.
5 min read Jul 12, 2023 -
Are CDs worth it right now? Here’s what experts say
With a possible recession looming, here’s what savers should know about CDs.
4 min read Jun 15, 2023 -
Fed holds off on interest rate hike but sees more increases coming this year
The Fed’s quest to defeat inflation, however, is nowhere near finished.
9 min read Jun 14, 2023 -
Inflation is slowing, but prices are still uncomfortably high — here’s what’s driving it
Getting inflation down to 2 percent may be the hardest task yet.
12 min read Jun 13, 2023 -
5 best investments that hedge against inflation, and others to avoid
Here are five of the best inflation hedges to help protect your portfolio against inflation.
5 min read Jun 05, 2023
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Helpful Links
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- What's next for the housing market?
- How to make your paycheck last
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- How to pay off credit card debt
- How to boost your credit score
- Tips for scoring a lower credit card rate
- Fed's interest rate history
- Inflation’s impact on auto rates
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- Are interest rates going up on personal loans?
- Historical CD interest rates