Skip to Main Content

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 Fed has been sitting back, evaluating economic data amidst all the uncertainty. The old saying that you skate to where the puck is going to be — if you don't know where the puck is going to be, you can't skate to it.”

– Greg McBride, CFA

Here’s why the Fed likely won’t cut interest rates like Trump wants this month

Inflation has been tame despite tariffs, but the Fed still isn't ready to declare mission accomplished.
Read More

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

Our expert reporters and editors bring the news and analysis you need—backed by data and firsthand experience.

About Bankrate
Greg McBride

Greg McBride, CFA Arrow Right Icon

Chief Financial Analyst

Sarah Foster

Sarah Foster Arrow Right Icon

Principal U.S. Economy Reporter

Mark Hamrick

Mark Hamrick Arrow Right Icon

Senior Economic Analyst

Latest articles

Rapidly spreading coronavirus has left markets jittery
That’s led the majority of economists to say risks are tilted toward the downside.
Federal Reserve Chairman Jerome Powell speaks at Fed press conference
It’s the first emergency move since October 2008, during the Great Recession.
Fed Chairman Jerome Powell speaks at press conference
With markets swooning, all eyes are now turning to the Fed.
President Donald Trump shakes the hand of Fed Chairman Jerome Powell
The chief executive’s claims weren’t wholly correct — even if they ended up being right.
What will get the Fed off the sidelines?
Man looking at bar graph amid Federal Reserve Eccles Building
The Fed will stay on the sidelines for an extended period, experts predict.
Jerome Powell walking through the Federal Reserve
With the Fed likely holding steady on rates for now, short-term CDs still look like a good option.
Will the new voting members be hawkish or dovish on rates?
Design element with Jerome Powell
Bankrate’s experts are reacting live to the Fed’s latest interest rate decision.
Jerome Powell, chair of the US Federal Reserve, during a news conference following a Federal Open Market Committee (FOMC) meeting.
The Fed has now gone six months without cutting interest rates.
Fed Chair Powell Holds News Conference Following FOMC Rate Decision
This Fed communication tool is important, but be cautious when interpreting it.
Illustration of a US Federal Reserve ink stamp
Every financial decision you make is impacted by the Federal Reserve.
Image of Jerome Powell on a blue background.
Tariffs haven’t created much inflation. You still won’t hear the Fed say all clear.
young man falling out of the sky along with various household items and cash
You might not feel better about inflation because prices are still up post-pandemic.
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 former St. Louis Fed president, Jim Bullard
Powell is concerned tariffs could lead to more inflation. This former Fed official has a different view.
Design element with Jerome Powell
Bankrate’s experts are reacting live to the Fed’s latest interest rate decision.
Jerome Powell, chair of the US Federal Reserve, during a news conference following a Federal Open Market Committee (FOMC) meeting.
The Fed has now gone six months without cutting interest rates.
Fed Chair Powell Holds News Conference Following FOMC Rate Decision
This Fed communication tool is important, but be cautious when interpreting it.
Federal Reserve Chair Jerome Powell.
The Federal Reserve announced that it’s holding interest rates steady following its March 18-19 meeting.
Image of Jerome Powell on a blue background.
Tariffs haven’t created much inflation. You still won’t hear the Fed say all clear.
young man falling out of the sky along with various household items and cash
You might not feel better about inflation because prices are still up post-pandemic.
Image of former St. Louis Fed president, Jim Bullard
Powell is concerned tariffs could lead to more inflation. This former Fed official has a different view.
Design element including image of Jerome Powell
Bankrate’s experts are reacting live to the Fed’s latest interest rate decision.
The trusted provider of accurate rates and financial information
Wall Street Journal
Usa Today
New York Times
Cnn
Bloomberg
Abc