Banking
How the Federal Reserve impacts savings account interest rates
3 min read
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
“Progress toward 2 percent inflation has stalled out, and the Fed knows it. They gave no indication in their post-meeting statement that a resumption of rate cuts is likely at the next meeting in March.”
Powell says FOMC is ‘in no hurry’ to cut again after Fed holds rates steady
The Federal Reserve decided to delay additional rate cuts for now and keep interest rates unchanged at its first meeting of the year, giving officials time to assess whether inflation is cooling and how President Donald Trump’s policies might impact the U.S. economy.
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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.
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