Skip to Main Content

Recession watch

Will the U.S. economy soon be in a recession? It's the trillion-dollar question that even experts don't know the answer to. Here's how to prepare for a potential downturn, and how one could impact you.

Insights from our expert analysts

“Economic uncertainty is a time for reducing debt and boosting savings, not the other way around.”

– Greg McBride, CFA

Do's and don'ts of saving during a recession

To help you navigate saving during a recession, we asked a number of experts what some of the most helpful things to do are, as well as some things you should try to avoid at all costs.
Learn more

Recessions & your money

Illustration of a person holding a house with a rain cloud over it
How might a recession affect the housing market?
A middle-aged couple looks out to the beach from their van
Here are some tips to help make sure your retirement savings are protected in the event of a recession.
Illustration of worker with a brief case
The once-booming labor market is starting to face some trouble.

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

Calculate your savings

Use our Savings Calculator to help you quickly and accurately estimate the growth of your investment. Set a goal and figure out how much you need to save each month to hit the mark.

Latest articles

The Federal Reserve’s decisions have ripple effects, including for mortgages.
Exterior of Federal Reserve building
Does the Fed interest rate affect car loans? Yes, it does: It has a domino effect that can raise or lower auto loan rates.
Outside of the Federal Reserve building
The Federal Reserve just lowered interest rates for the first time in four years.
A Black couple talk to a salesperson at a car dealership.
Auto rates will likely not decrease this year. Consider how to still save.
If you’re looking at HE loans or have a variable-rate line of credit, pay attention to the Fed.
US-ECONOMY-FEDERAL RESERVE-RATE-POWELL
The Fed’s rate hold means loans costs are sticking. Here’s what it means for your business.
Federal Reserve Eccles Building illustration
Bankrate analyzed the Fed’s historic rate moves for clues on what might come next.
U.S. Federal Reserve Chairman Jerome Powell delivers remarks at a news conference.
The best way for most investors to approach this type of market is to stick to their long-term plan.
Young male driver using smart phone while sitting in delivery van
These strategies will help you manage multiple income streams.
A young business woman makes a payment on her phone.
The acronym is probably an essential piece of your well-being. Here’s why.
A teacher and children drawing the globe in chalk
These tips can help students maximize savings from their summer job earnings.
Man in a yellow construction jacket and hard hat
Experts, however, still don’t see a labor market as tough as it was during the pandemic.
Woman walking throw a bunch of floating produce items and cash
While the worst of inflation may be over, the battle hasn’t yet been won.
Sign of Wall St, a man falling down, a bundle of cash
A recession hasn’t happened yet, but it’s likely still coming, economists say.
Jerome Powell in a speaking posture
Economists are taking the Fed at its word, penciling in more rate hikes.
Young university student reading a book in the library
Graduating from college without the burden of student loan debt has significant benefits.
The Federal Reserve’s decisions have ripple effects, including for mortgages.
Exterior of Federal Reserve building
Does the Fed interest rate affect car loans? Yes, it does: It has a domino effect that can raise or lower auto loan rates.
Outside of the Federal Reserve building
The Federal Reserve just lowered interest rates for the first time in four years.
A Black couple talk to a salesperson at a car dealership.
Auto rates will likely not decrease this year. Consider how to still save.
If you’re looking at HE loans or have a variable-rate line of credit, pay attention to the Fed.
US-ECONOMY-FEDERAL RESERVE-RATE-POWELL
The Fed’s rate hold means loans costs are sticking. Here’s what it means for your business.
Federal Reserve Eccles Building illustration
Bankrate analyzed the Fed’s historic rate moves for clues on what might come next.
U.S. Federal Reserve Chairman Jerome Powell delivers remarks at a news conference.
The best way for most investors to approach this type of market is to stick to their long-term plan.
The trusted provider of accurate rates and financial information
Wall Street Journal
Usa Today
New York Times
Cnn
Bloomberg
Abc