Banking
June Fed meeting recap: Fed leaves rates alone, continues to see two cuts in 2025
31 min read
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.
“Interest rates are high and are unlikely to come down quickly. Consumers should lean into this by aggressively paying down high-cost debt and padding emergency savings. Those with less debt and more savings will be best positioned to weather whatever the economy throws at us in the months ahead.”
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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About BankrateChief Financial Analyst
Principal U.S. Economy Reporter
Senior Economic Analyst