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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Are we in a recession? It sure feels like it to many Americans
High inflation has a financial toll similar to job loss.
5 min read Jun 28, 2022 -
Fed hikes interest rates by three-quarters of a point to combat decades-high inflation
The Fed’s move is the biggest increase since 1994 and undoubtedly raises the risks of a recession.
7 min read Jun 15, 2022 -
Bask Bank offers savings account APY among highest in the nation
The online-only bank’s savings rate tops many competitors.
1 min read Jun 13, 2022 -
Inflation surge puts pressure on mortgage rates
A surge in inflation is pushing the Fed to act — and mortgage borrowers could feel the pain.
2 min read Jun 10, 2022 -
Worried about surging inflation? Here’s how to protect your wallet from taking a big hit
Experts expect inflation to cool, but how soon that happens will be key.
6 min read May 11, 2022 -
Federal Reserve raises interest rates by a half point to fight soaring inflation
The Fed is withdrawing stimulus at the fastest pace in decades.
7 min read May 04, 2022 -
Mortgage rate forecast for May 2022: Sticker shock sets in
Until inflation is tamed, mortgage rates are likely to keep rising.
4 min read May 01, 2022 -
What is the federal funds rate? How the Fed sets interest rates, explained
The Fed steers the U.S. economy by setting the price of borrowing money.
7 min read Apr 27, 2022 -
Survey: Experts see a big slowdown in job growth as hawkish Fed raises rates
Job creation is expected to be almost two times slower over the next 12 months.
5 min read Mar 31, 2022 -
Survey: More than half of economists say surging inflation will climb much higher than expected
Consumers will likely have to keep paying more for almost everything they buy.
5 min read Mar 31, 2022 -
Survey: There’s a 33% chance a recession is on the way, according to top economists
Fed officials are projecting seven total rate hikes in 2022 alone.
5 min read Mar 31, 2022 -
How is the U.S. economy doing? With inflation hitting 40-year highs, watch these 4 key areas
There’s no telling when inflation will slow down.
8 min read Mar 24, 2022 -
Survey: Pros say these investments are among the top hedges in battle against high inflation
With inflation raging, this is where experts suggest to invest to beat rising prices.
4 min read Mar 22, 2022 -
Survey: Experts forecast Treasury yields to push even higher over next 12 months
Experts expect Treasury yields to increase over the next 12 months as the Fed hikes rates following the pandemic.
4 min read Mar 22, 2022 -
Federal Reserve raises interest rates for first time since 2018
The move marks an end to the Fed’s most aggressive economic rescue effort in history.
7 min read Mar 16, 2022 -
What is quantitative easing?
The Fed’s unconventional tool for fending off recession is being wound down.
6 min read Mar 07, 2022 -
The worst inflation in 40 years: Here’s when price pressures could hit their peak
Consumers are bracing for a longer stretch of high inflation. But when can it be expected to slow down?
7 min read Feb 25, 2022 -
Why mortgage rates just hit their highest point since 2020, and what you can do about it
The job market is booming. Inflation is raging. The Fed is poised to take away the punch bowl.
2 min read Feb 11, 2022 -
Fed keeps interest rates at zero, signals upcoming rate hike
Officials are sounding the alarm that they’re running the economy too hot.
7 min read Jan 26, 2022 -
The coin shortage isn’t over yet
The coin shortage in the U.S. continues to be an inconvenience for many.
4 min read Jan 21, 2022
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Helpful Links
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- 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
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- Historical CD interest rates