The Federal Reserve and Your Money
Borrowing costs are at a 23-year high thanks to the Federal Reserve's rapid rate hikes. 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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What is the Federal Reserve’s balance sheet?
Now a cornerstone of Fed policy, the balance sheet has big implications for your wallet.
8 min read May 02, 2024 -
The Fed’s latest meeting wasn’t just about interest rates. Here’s why you shouldn’t overlook its balance sheet announcement
The Fed hopes to prevent major market disruptions that could cause rates to spike.
6 min read May 02, 2024 -
Bank overdraft protection: Do you need it?
Overdraft protection can be a helpful and convenient tool to avoid paying a steeper overdraft fee.
3 min read May 02, 2024 -
Fed keeps interest rates at 23-year high, delaying cuts as inflation progress stalls
Fed officials signaled no immediate plans to begin cutting interest rates.
8 min read May 01, 2024 -
What is the federal funds rate? How the Fed controls interest rates, explained
The Fed’s policy toolkit has changed almost as much as interest rates itself.
9 min read May 01, 2024 -
Why now might be a good time to consider longer-term CDs
If you’ve been thinking of getting a longer-term CD, you may want to make a move.
4 min read Apr 02, 2024 -
Fed remains on hold, keeps forecast for three rate cuts in 2024
How will the Fed juggle hotter inflation with a rising unemployment rate?
7 min read Mar 20, 2024 -
What is the Federal Reserve? A guide to the world’s most powerful central bank
The Fed plays a role in influencing every financial decision you make.
12 min read Mar 20, 2024 -
Should you buy a house during a recession?
How might a recession affect the housing market? Find out what the experts think.
7 min read Mar 11, 2024 -
Single women homebuyer statistics and tips 2024
The share of single women homebuyers continues to outpace the share of single men in the housing market.
4 min read Mar 08, 2024 -
Denied and distressed: Half of applicants have been turned down for a loan or financial product since the Fed began raising rates
Americans’ credit woes might not turn around until the Fed eventually cuts rates.
8 min read Mar 04, 2024 -
The Federal Reserve’s board of governors, explained — who’s on it and what they do
The Fed’s board has a powerful influence over interest rates and monetary policy.
6 min read Jan 30, 2024 -
When will personal loan interest rates start dropping?
The Federal Reserve has finally shown the signs of a rate plateau. However, interest rates are still breaking records, and it’s not a given that personal loan rates will fall anytime soon. While the [...]
2 min read Jan 09, 2024 -
Survey: Economists split on whether Fed will cut rates in first or second half of 2024
Will falling inflation make the Fed in a hurry to cut rates?
4 min read Jan 03, 2024 -
Survey: Inflation is slowing fast but still might not hit the Fed’s target until 2025
Inflation slowed much faster than expected last year, but economists are still wary.
4 min read Jan 03, 2024 -
Survey: Economists project a milder hiring slowdown than originally expected for 2024
For three straight surveys, economists have upgraded their job market forecasts.
4 min read Jan 03, 2024 -
Survey: Despite a resilient economy, experts still see a near 1-in-2 chance of a recession
Economists say the risks of a downturn are still high, even as the economy stays strong.
4 min read Jan 03, 2024 -
Credit card interest rate forecast for 2024: Rates will ease a bit, but remain high
If you have credit card debt, your interest rates are likely to remain high in 2024.
3 min read Jan 02, 2024 -
CD rates forecast for 2024: Expect banner year for savers with strong yields, lower inflation rate
You can find a CD account that significantly out-earns the national average if you shop around among banks.
3 min read Jan 02, 2024 -
Regulation D and savings account withdrawal limits – here’s what changed
How Reg. D impacts your savings account and why it pays to check with your bank.
5 min read Dec 20, 2023
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