Banking
How the Federal Reserve impacts savings account interest rates
4 min read
The Federal Reserve and Your Money
Interest rates are now on the decline, but borrowing costs are still the highest in over a decade. Here's what it means for your wallet.
The latest on the Fed from Bankrate’s experts
“Borrowers should understand that ‘falling interest rates’ are not the same as ‘low interest rates.’ The urgency remains to pay down high-cost debt and utilize zero-percent or other low rate balance transfer offers to turbocharge credit card debt repayment.”
Fed cuts interest rates by quarter point but faces uncertainty following Trump’s election win
The Federal Reserve cut interest rates for the second consecutive meeting on Thursday but this time by a smaller quarter of a percentage point, as inflation continues cooling and a slowdown in the job market stabilizes.
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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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It just might be. But don’t forget the fundamentals of how home equity loans work.
The Federal Reserve’s decisions have ripple effects, including for mortgages.
If you’re looking at HE loans or have a variable-rate line of credit, pay attention to the Fed.
The key benchmark has been as high as 20 percent — and as low as 0 percent.
The Fed’s latest cut means cheaper business loans. Here’s what it means for you.
The Federal Reserve cut interest rates for the second consecutive meeting but this time by a smaller quarter of a percentage point.
Does the Fed interest rate affect car loans? Yes, it does: It has a domino effect that can raise or lower auto loan rates.
Inflation slowed much faster than expected last year, but economists are still wary.
For three straight surveys, economists have upgraded their job market forecasts.
Economists say the risks of a downturn are still high, even as the economy stays strong.
Nine in 10 holiday essentials are more expensive today than before the pandemic.
Experts are doubting the Fed’s September projections that showed one more rate hike.
Will the Fed keep interest rates too high for too long?
The strong economy isn’t leading economists to rethink their job market forecasts.
How hard will the Fed have to push to slow the economy enough?
You might not feel better about inflation because prices are still up post-pandemic.
Savings yields topping inflation could let you hold onto your purchasing power.
The key benchmark has been as high as 20 percent — and as low as 0 percent.
Rate cuts mark a new era for the Fed. Here’s what you should do as a consumer.
Consider a savings account with an APY above the inflation rate.
For savers, here’s what to consider when the Fed raises interest rates.
The Federal Reserve announced that it’s lowering interest rates following its Nov. 6-7 meeting.
Some high-profile economists have called the Fed’s half-point call “a mistake.”
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