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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.
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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

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Chief Financial Analyst

Sarah Foster

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Principal U.S. Economy Reporter

Mark Hamrick

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Senior Economic Analyst

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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

Wall Street in New York City
Experts are betting that a recession will occur by the end of 2021, a new survey suggests.
Chairman of the Federal Reserve nominee Jerome Powell is sworn in during his confirmation hearing before the Senate Banking, Housing and Urban Affairs Committee
Learn all about Jerome Powell, who is presiding over his first FOMC policy meeting.
Daughter and father using mobile phone
Several banks continue to offer savings accounts well above 4 percent APY.
Man working on laptop and cellphone simultaneously
If you’ve been thinking of getting a longer-term CD, you may want to make a move.
Woman watering plants.
Check out the latest CD rates from Bankrate’s weekly survey of banks and thrifts.
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.
Spend money, pay bills, write checks or make fund transfers with a checking account.
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.
Design element with Jerome Powell
Bankrate’s experts are reacting live to the Fed’s latest interest rate decision.
Home decorated for autumn
It just might be. But don’t forget the fundamentals of how home equity loans work.
New Friends Walking on University Campus
The Federal Reserve’s actions can influence student loan interest rates.
US-ECONOMY-FEDERAL RESERVE-RATE-POWELL
The Fed’s rate hold means loans costs are sticking. Here’s what it means for your business.
Couple buying a car
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.
Banking_How-the-Fed-Rate-Affects-Housing_
The Fed has hit the pause button on rates. How will it affect the housing market?
The Federal Reserve’s decisions have ripple effects, including for mortgages.
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