Here’s what the highest Fed rates in more than a decade mean for your money
The Fed impacts almost every financial decision you make.
10 min read
Apr 28, 2023
EXPERTISE
- Economy
- Federal Reserve
- U.S. economic policy
- Personal finance
- Taxes
- Unemployment insurance (UI)
EDUCATION
- Bachelor of Science in News-Editorial Journalism, University of Illinois at Urbana-Champaign
- Master of Science in Journalism, Northwestern University
The Federal Reserve is one of the most complex institutions in the world; yet, its decisions impact consumers’ wallets more than any other policymaker in Washington, D.C. My goal is to remove some of the mystery surrounding the U.S. central bank, so you can be an even smarter consumer.
— Sarah Foster
About the author
Bankrate.com writer Sarah Foster covers the Federal Reserve, the U.S. economy and economic policy. Originally from a small town in rural Illinois, Foster developed a passion for economics while watching her community recover from the Great Recession. She witnessed just how much Main Street is impacted by Wall Street and saw firsthand that the Federal Reserve’s most well-intentioned policies can still leave those most desperate for help behind.
Experience
Sarah previously worked for Bloomberg News, the Chicago Tribune and the Chicago Daily Herald and has been quoted in several national and regional media outlets, including Yahoo! News, NBC, the Toronto Star, the St. Louis Post-Dispatch and more.
Media mentions
The Federal Reserve is one of the most complex institutions in the world; yet, its decisions impact consumers’ wallets more than any other policymaker in Washington, D.C. My goal is to remove some of the mystery surrounding the U.S. central bank, so you can be an even smarter consumer.
— Sarah Foster
Sarah's latest articles
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May Fed Meeting Preview: Could this be the Fed’s last rate hike?
The most aggressively hawkish Fed in 40 years may soon step to the sidelines.
11 min read Apr 26, 2023 -
Worried about a potential recession? Here’s 9 steps to prepare your finances now
The best time to prepare for a recession is when a downturn doesn’t seem possible.
14 min read Apr 24, 2023 -
Even after inflation cools, Americans could still be paying the price
The cost of high inflation is even greater than rising prices.
15 min read Apr 17, 2023 -
Survey: Fed seen lifting rates one more time before cutting in 2024
The Fed won’t want to declare victory in its inflation fight too soon.
5 min read Apr 05, 2023 -
Survey: Recession odds for 2023 hover at 64% amid bank failures and higher rates
Recession odds stalled to the start the year — but those risks are back.
5 min read Apr 05, 2023 -
Survey: Inflation to keep decelerating — but at the price of a slowing economy
Will a recession be the ultimate cost of slowing prices?
4 min read Apr 05, 2023 -
Survey: Economists predict jump in unemployment and job losses over next 12 months
Experts see job cuts and a one-point jump in unemployment by this time next year.
5 min read Apr 05, 2023
