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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When will personal loan interest rates start dropping?
The Federal Reserve has finally shown the signs of a rate plateau. However, interest rates are still breaking records, and it’s not a given that personal loan rates will fall anytime soon. While the [...]
2 min read Jan 09, 2024 -
Survey: Economists split on whether Fed will cut rates in first or second half of 2024
Will falling inflation make the Fed in a hurry to cut rates?
4 min read Jan 03, 2024 -
Survey: Inflation is slowing fast but still might not hit the Fed’s target until 2025
Inflation slowed much faster than expected last year, but economists are still wary.
4 min read Jan 03, 2024 -
Survey: Economists project a milder hiring slowdown than originally expected for 2024
For three straight surveys, economists have upgraded their job market forecasts.
4 min read Jan 03, 2024 -
Survey: Despite a resilient economy, experts still see a near 1-in-2 chance of a recession
Economists say the risks of a downturn are still high, even as the economy stays strong.
4 min read Jan 03, 2024 -
Credit card interest rate forecast for 2024: Rates will ease a bit, but remain high
If you have credit card debt, your interest rates are likely to remain high in 2024.
3 min read Jan 02, 2024 -
CD rates forecast for 2024: Expect banner year for savers with strong yields, lower inflation rate
You can find a CD account that significantly out-earns the national average if you shop around among banks.
3 min read Jan 02, 2024 -
When will the Fed cut rates? Some economists say the timing might not be as far off as officials think
Some economists aren’t convinced the Fed needs to take as much time as it thinks.
7 min read Dec 20, 2023 -
Regulation D and savings account withdrawal limits – here’s what changed
How Reg. D impacts your savings account and why it pays to check with your bank.
5 min read Dec 20, 2023 -
What is the Federal Open Market Committee (FOMC)? Meet the key policymakers shaping your finances
The Fed has lifted rates 11 times. These policymakers are behind those decisions.
5 min read Dec 18, 2023 -
Survey: Nearly two-thirds of Americans don’t expect their personal finances to improve in 2024
The biggest reason behind Americans’ financial pessimism continues to be inflation.
7 min read Dec 18, 2023 -
Fed keeps interest rates unchanged, sees cuts coming in 2024
The decision adds to suspicions that officials are done raising rates.
10 min read Dec 13, 2023 -
The Federal Reserve’s latest dot plot, explained – and what this powerful tool says about interest rates
This Fed communication tool is important, but be cautious when interpreting it.
7 min read Dec 13, 2023 -
Will the Fed raise interest rates one more time this year? Some economists aren’t convinced
Experts are doubting the Fed’s September projections that showed one more rate hike.
9 min read Nov 08, 2023 -
HELOCs replace cash-out refinancing for equity-rich homeowners
Even at higher rates, a HELOC is worth considering over other types of financing.
2 min read Nov 03, 2023 -
How the Fed rate changes impact student loan interest rates
The Federal Reserve’s actions can influence student loan interest rates.
5 min read Nov 01, 2023 -
Experts: Mortgage rates won’t rise much more — but also won’t go down any time soon
The sharp rise in mortgage rates raises a new question: How much higher could they go?
3 min read Oct 20, 2023 -
Mortgage rates reach 8%, a first since 2000
The average 30-year fixed mortgage rate touched 8 percent on Oct. 19, according to Bankrate data.
3 min read Oct 19, 2023 -
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
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Helpful Links
- How to save money
- How to build an emergency fund
- Savings tips for different goals
- How to get the best mortgage rate
- How to get the best refi rate
- How often to compare mortgage rates
- Best low-risk investments
- How to pay off debt
- How much does it cost to buy a home?
- What's next for the housing market?
- How to make your paycheck last
- What debt should you pay off first?
- 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
- When will car interest rates start dropping?
- Are interest rates going up on personal loans?
- Historical CD interest rates