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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.

The latest on the Fed from Bankrate’s experts

“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.”

– Greg McBride, CFA

Fed holds interest rates steady, resisting pressure from Trump

The Federal Reserve left interest rates unchanged for a fifth straight meeting, with policymakers stuck in a prolonged wait-and-see mode as President Donald Trump’s tariffs leave them wary of cutting borrowing costs too soon.
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.

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
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

Mark Hamrick Arrow Right Icon

Senior Economic Analyst

Latest articles

Federal Reserve Chairman Jerome Powell speaks at press conference
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Federal Reserve Eccles Building in Washington, D.C.
The fed funds rate could quickly approach zero this year, experts said.
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Federal Reserve Chairman Jerome Powell speaks at Fed press conference
It’s the first emergency move since October 2008, during the Great Recession.
Fed Chairman Jerome Powell speaks at press conference
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Federal Reserve Chair Powell Holds Press Conference On Interest Rates
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Federal Reserve Eccles Building illustration
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Illustration of a US Federal Reserve ink stamp
Every financial decision you make is impacted by the Federal Reserve.
Image of Jerome Powell above the Federal Reserve Building.
A July rate cut may be off the table, but could a cut in September still be in play?
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Businesses may now be starting to pass along higher costs from tariffs to consumers.
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Prices rise and fall all the time in the U.S. economy. It’s not always inflation.
Design element with Jerome Powell
Bankrate’s experts are reacting live to the Fed’s latest interest rate decision.
Jerome Powell, chair of the US Federal Reserve, during a news conference following a Federal Open Market Committee (FOMC) meeting.
The Fed has now gone six months without cutting interest rates.
Federal Reserve Chair Powell Holds Press Conference On Interest Rates
Bankrate’s experts are reacting live to the Fed’s latest interest rate decision.
Federal Reserve Eccles Building illustration
Bankrate analyzed the Fed’s historic rate moves for clues on what might come next.
Image of Jerome Powell above the Federal Reserve Building.
A July rate cut may be off the table, but could a cut in September still be in play?
young man falling out of the sky along with various household items and cash
Businesses may now be starting to pass along higher costs from tariffs to consumers.
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.
A slowdown may already be underway in the once formidable U.S. job market.
Design element with Jerome Powell
Bankrate’s experts are reacting live to the Fed’s latest interest rate decision.
Jerome Powell, chair of the US Federal Reserve, during a news conference following a Federal Open Market Committee (FOMC) meeting.
The Fed has now gone six months without cutting interest rates.
Fed Chair Powell Holds News Conference Following FOMC Rate Decision
This Fed communication tool is important, but be cautious when interpreting it.
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