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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.

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June Fed meeting coverage
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What to expect from the next Fed meeting
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The Fed’s interest rate history
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How the Fed impacts your wallet
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What is the Fed?

The latest on the Fed from Bankrate’s experts

“The Fed has been sitting back, evaluating economic data amidst all the uncertainty. The old saying that you skate to where the puck is going to be — if you don't know where the puck is going to be, you can't skate to it.”

– Greg McBride, CFA

Fed expects two rate cuts this year in response to a projected rise in unemployment, inflation

Federal Reserve policy makers still expect to cut interest rates this year as the U.S. economy shows signs of distress.
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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.

Mortgage rates

This week's mortgage news

Savings rates

What is the average interest rate for savings accounts?

CD rates

This week's outlook for CD interest rates

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

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About Bankrate
Greg McBride

Greg McBride, CFA Arrow Right Icon

Chief Financial Analyst

Sarah Foster

Sarah Foster Arrow Right Icon

Principal U.S. Economy Reporter

Mark Hamrick

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Senior Economic Analyst

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Latest articles

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Jerome Powell, chair of the US Federal Reserve, during a news conference following a Federal Open Market Committee (FOMC) meeting.

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young man falling out of the sky along with various household items and cash

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Illustration of Fed Chair Jerome Powell with torn pieces of money falling around him and a jagged arrow rising from the lower left to the upper right. There is also a Now Hiring sign behind him in the upper left of the image.

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Jerome Powell, chair of the US Federal Reserve, during a news conference following a Federal Open Market Committee (FOMC) meeting.

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Federal Reserve Chair Jerome Powell.

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Image of Jerome Powell on a blue background.

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young man falling out of the sky along with various household items and cash

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Image of former St. Louis Fed president, Jim Bullard

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