Banking
The Federal Reserve’s latest dot plot, explained – and what it says about interest rates cuts
7 min read
The Federal Reserve and Your Money
The Fed just cut interest rates for the first time since 2020. Here are the most important steps you should take with your wallet.
The latest on the Fed from Bankrate’s experts
“The Fed was behind the curve when raising interest rates to corral inflation and the lesson appears to have been learned. By making a larger half-point interest rate cut right from the get-go, the Fed is taking out some insurance against being behind the curve again.”
Fed Lowers Interest Rates With Surprising Half-Point Cut
In a more aggressive move than expected, the Federal Open Market Committee (FOMC) cut their benchmark borrowing rate by half of a percentage point, bringing the key federal funds rate to a new target range of 4.75-5 percent. In the weeks leading up to the meeting, economists thought the Fed would stick with a more modest quarter-point hike, even as investors upped their bets on the bigger move, according to CME Group’s FedWatch tool.
Read More
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.
Mortgage rates
This week's mortgage news
Savings rates
What is the average interest rate for savings accounts?
Auto loan rates
Current car loan interest rates
HELOC rates
This week's HELOC news and analysis
Credit card rates
Current credit card interest rates
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
Chief Financial Analyst
Principal U.S. Economy Reporter
Senior Economic Analyst
Editor's picks
Follow us for the latest financial news:
Greg McBride, CFA
Chief financial analyst, Personal Finance
Mark Hamrick
Washington Bureau Chief, Senior Economic Analyst
Sarah Foster
Principal U.S. Economy and Federal Reserve Reporter
Latest articles
The U.S. economy is going to be walking a fine line over the next year.
Will it be enough to keep the economic expansion going?
A rate cut seems like a given, but what’s next?
Here’s what the U.S. central bank decided to do with interest rates.
How much of a rate cut can we expect from the Fed?
The major concern about the U.S. economy: How much longer will the expansion last?
The July rate cut is likely just the beginning, Bankrate’s latest economists’ poll finds.
The Fed’s move is a win for borrowers and a wake up call for savers.
Fed officials are trying to prevent an economic slowdown from getting worse.
Tune in to Bankrate’s live coverage of the Fed’s first rate cut since 2020.
The key benchmark has been as high as 20 percent — and as low as 0 percent.
This Fed communication tool is important, but be cautious when interpreting it.
Rate cuts mark a new era for the Fed. Here’s what you should do as a consumer.
Every financial decision you make is impacted by the Federal Reserve.
Rate cuts are coming. Just don’t call this a low-rate environment just yet.
Wages are on pace to fully recover from inflation by the second quarter of 2025.
Fed officials are trying to prevent an economic slowdown from getting worse.
Tune in to Bankrate’s live coverage of the Fed’s first rate cut since 2020.
For savers, here’s what to consider when the Fed raises interest rates.
The key benchmark has been as high as 20 percent — and as low as 0 percent.
The Federal Reserve announced that it’s lowering interest rates following its September 17-18 meeting.
This Fed communication tool is important, but be cautious when interpreting it.
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.
The trusted provider of accurate rates and financial information