The Federal Reserve and Your Money

The U.S. central bank has lifted rates at the fastest pace in four decades, impacting how much you pay to borrow 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

How Fed rates impact student loans

The Federal Reserve’s actions can influence student loan interest rates.

How the Fed impacts mortgage rates

The Federal Reserve’s decisions have ripple effects, including for mortgages.

The Fed and credit card rates

The Fed continues its fight against inflation and is expected to take rates higher, meaning cardholders could see higher rates, too.

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.

Mortgage rates

As economy slow, mortgage rates retreat

HELOC rates

This week's HELOC news and analysis

Credit card rates

Current credit card interest rates

Auto loan rates

Current car loan interest rates

Savings rates

What is the average interest rate for savings accounts?

CD rates

This week's outlook for CD interest rates

Essential reading

Follow us for the latest financial news:

Greg McBride, CFA Chief financial analyst, Personal Finance

Mark Hamrick Washington Bureau Chief, Senior Economic Analyst

Sarah Foster Principal U.S. Economy Reporter, Personal Finance

Latest Articles

Are banks open today? Federal bank holidays in 2023

Knowing bank holiday schedules can help you avoid delays on necessary transactions.

3 min read Sep 01, 2023
Should you buy a house during a recession?

How might a recession affect the housing market? Find out what the experts think.

7 min read Aug 22, 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.

4 min read Aug 03, 2023
When will personal loan interest rates start dropping?

The Federal Reserve, while still raising interest rates, is indicating that a rate plateau may be on the horizon. However, it’s not a given that personal loan rates will fall anytime soon. At least until [...]

2 min read Jul 28, 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?

14 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.

6 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.

5 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
Federal Reserve rate hike impact on home equity

The latest news on the Fed and home equity rates

4 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.

13 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
How to break the credit card debt cycle

Learn about five ways in which you can break out of the credit card debt cycle.

4 min read Jun 05, 2023
When will the Fed stop raising rates? The time could be coming soon

Fed Chair Jerome Powell said interest rates “may not be far off” from their peak.

8 min read May 10, 2023
What is a bank bailout?

A look at what a bank bailout is with some examples of notable bank bailouts from the past.

5 min read May 01, 2023
Where are mortgage rates headed in May 2023?

Will the long-awaited decline begin this month?

3 min read May 01, 2023
What is cryptocurrency?

Cryptocurrencies are managed through what’s called a distributed ledger such as blockchain.

8 min read Apr 20, 2023

Related Topics

Helpful Links

The trusted provider of accurate rates and financial information