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The Federal Reserve and Your Money

Interest rates are a little lower than they used to be, but they’re still near the highest levels in over a decade. Here’s what it means for your wallet.

The latest on the Fed from Bankrate’s experts

“The biggest question now is how the Federal Reserve will respond to mounting concerns about the ongoing government shutdown, its risks to the economy and how it may influence future policy decisions.”

– Stephen Kates, CFP

The Fed Cut Interest Rates Again. Here’s How Your Wallet Could Feel It.

The Federal Reserve cut interest rates for the second straight meeting, a sign that officials are more focused on safeguarding the job market and shielding the economy from a recession than reining in rising inflation.
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Recent interest rate trends

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.

Experts in all things finance

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About Bankrate
Greg McBride

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Chief Financial Analyst

Sarah Foster

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Principal U.S. Economy Reporter

Mark Hamrick

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Senior Economic Analyst

Latest articles

If you’re looking at HE loans or have a variable-rate line of credit, pay attention to the Fed.
Jerome Powell, chairman of the US Federal Reserve, during the National Association of Business Economics (NABE) annual meeting in Philadelphia, Pennsylvania.
Borrowers often don’t notice small rate cuts, and a weakening economy could dull the relief.
A Black couple talk to a salesperson at a car dealership.
Auto rates will likely not decrease this year. Consider how to still save.
The Federal Reserve’s decisions have ripple effects, including for mortgages.
Exterior of Federal Reserve building
Does the Fed interest rate affect car loans? Yes, it does: It has a domino effect that can raise or lower auto loan rates.
Outside of the Federal Reserve building
The Federal Reserve just lowered interest rates for the first time in four years.
Federal Reserve Eccles Building illustration
Bankrate analyzed the Fed’s historic rate moves for clues on what might come next.
Jerome Powell, chairman of the US Federal Reserve, arrives for the Federal Reserve Board open meeting in Washington, DC, Oct. 24, 2025.
The best way for most investors to approach this type of market is to stick to their long-term plan.
Jerome Powell, chairman of the US Federal Reserve, during the National Association of Business Economics (NABE) annual meeting in Philadelphia, Pennsylvania.
Borrowers often don’t notice small rate cuts, and a weakening economy could dull the relief.
Federal Reserve Eccles Building illustration
Bankrate analyzed the Fed’s historic rate moves for clues on what might come next.
Illustration of a US Federal Reserve ink stamp
Every financial decision you make is impacted by the Federal Reserve.
Illustration of Fed Chair Jerome Powell speaking at a podium at the Fed's post-meeting press conference.
Officials are cutting rates to shore up the job market, but it’s not without risk.
Woman reaching in to the air for cash
Prices rise and fall all the time in the U.S. economy. It’s not always inflation.
Image of Jerome Powell
Rate cuts usually help your budget. This time, the impact may be barely noticeable.
Image of Jerome Powell speaking from the Federal Reserve podium.
A tough mix of rising prices and weak hiring is leaving the Fed with no easy way out.
Image of a torn apart one hundred U.S. dollar bill with a red jagged graph line running through the the torn pieces.
Workers still have less purchasing power today than at the beginning of 2021.
Image of Jerome Powell
Rate cuts usually help your budget. This time, the impact may be barely noticeable.
Image of Jerome Powell speaking from the Federal Reserve podium.
A tough mix of rising prices and weak hiring is leaving the Fed with no easy way out.
Jerome Powell, chairman of the US Federal Reserve, left, and Lisa Cook, governor of the US Federal Reserve, during the Federal Reserve Board open meeting in Washington, DC.
In a historic move, Trump announced on Monday that he was firing Fed Gov. Lisa Cook.
Easy mornings and working from home for this couple
Savings yields topping inflation could let you hold onto your purchasing power.
young man falling out of the sky along with various household items and cash
Businesses may now be starting to pass along higher costs from tariffs to consumers.
Federal Reserve Chair Powell Holds Press Conference On Interest Rates
Bankrate’s experts are reacting live to the Fed’s latest interest rate decision.
Image of Jerome Powell above the Federal Reserve Building.
A July rate cut may be off the table, but could a cut in September still be in play?
Illustration of Fed Chair Jerome Powell with torn pieces of money falling around him and a jagged arrow rising from the lower left to the upper right. There is also a Now Hiring sign behind him in the upper left of the image.
A slowdown may already be underway in the once formidable U.S. job market.
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