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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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.
Will a recession not wreck the economy’s party after all — or is it just late?
Shutdowns range from a minor inconvenience to a major financial disruption.
The higher rates rise, the more Fed watchers wonder: Is the Fed about done?
The real question is: What will the Fed’s next moves be?
Experts, however, still don’t see a labor market as tough as it was during the pandemic.
While the worst of inflation may be over, the battle hasn’t yet been won.
A recession hasn’t happened yet, but it’s likely still coming, economists say.
Economists are taking the Fed at its word, penciling in more rate hikes.
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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