Interest rates remain at historically low levels. That's a good thing for borrowers, at least those who can qualify for loans. But savers continue to get paltry returns. Now that Janet Yellen is the nation's chief central banker, does the outlook for our personal finances change?
At her first news conference as chair, she said the first rate boost could take place as soon as six months after new asset purchases come to an end. That could mean the first increase in the federal funds rate happens in mid-2015.
In this video, Bankrate's chief financial analyst, Greg McBride, speaks with Washington Bureau Chief Mark Hamrick about outlook for the economy and your money, based on the Federal Reserve's current policies.