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Top high-yield savings accounts are still beating inflation. Here’s why that’s important
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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
“It is tempting to romanticize the idea of lower interest rates, particularly from a borrowing perspective. But the reason for lower interest rates is very important. We want interest rates to come down because inflation pressures are easing, not because the economy is weakening.”
Fed skips another interest rate cut, warns of ‘potential’ for stagflation
The Federal Reserve voted on Wednesday to keep interest rates steady for the third consecutive meeting even while acknowledging that unemployment could increase, a decision that signals officials are more concerned about inflation than the possibility of a recession.
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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.
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Latest articles
The Fed hopes to prevent major market disruptions that could cause rates to spike.
The Fed’s policy toolkit has changed almost as much as interest rates itself.
Recession odds have fallen from a high of 65 percent in the third quarter of 2023.
Economists are divided over when inflation will hit the Fed’s 2 percent goal.
Experts still expect a major hiring slowdown, even if it hasn’t happened yet.
Rate cuts might not bring the relief consumers have been waiting for.
The Fed plays a role in influencing every financial decision you make.
The Fed’s board has a powerful influence over interest rates and monetary policy.
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