Banking
As Trump eyes Powell’s successor, the Fed moves toward another rate cut
7 min read
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
“Americans who are hoping for lower borrowing costs should reset their outlook to a world of largely stable interest rates. Making financial decisions based on the assumption of imminent change is likely to lead to frustration.”
The Fed didn’t cut interest rates. Here are 5 things to watch next.
The Federal Reserve left interest rates alone at its first meeting of the year, keeping borrowing costs at a multiyear high for Americans as policymakers grow more cautious about making future cuts.
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
Bankrate Financial Analyst
Principal U.S. Economy Reporter
Senior Economic Analyst
Editor's picks
Follow us for the latest financial news:
Stephen Kates, CFP
Bankrate Financial Analyst, Wealth
Mark Hamrick
Washington Bureau Chief, Senior Economic Analyst
Sarah Foster
U.S. Economy Reporter and Analyst
Latest articles
The strong economy isn’t leading economists to rethink their job market forecasts.
How hard will the Fed have to push to slow the economy enough?
Will a recession not wreck the economy’s party after all — or is it just late?
The higher rates rise, the more Fed watchers wonder: Is the Fed about done?
The downgrade of U.S. debt created one more reason for mortgage rates to stay at a peak.
The real question is: What will the Fed’s next moves be?
Hit with mounting housing woes, young people ask: Wait it out or make a sacrifice?
Experts, however, still don’t see a labor market as tough as it was during the pandemic.
The big question: How long will the Fed be on hold?
Bankrate analyzed the Fed’s historic rate moves for clues on what might come next.
Every financial decision you make is impacted by the Federal Reserve.
A complicated U.S. economy. Stubborn inflation and a jobless boom. Unprecedented conflict with the president. Personnel changes, and a new Fed chair. Federal Reserve officials are no stranger to difficult [...]
Rates are falling, and finance pros say it may be time for Americans to rethink some strategies.
Powell is dealing with the most intense division of his eight years as Fed chair.
Here’s what to skip and what to buy — and how to tariff-proof your budget.
It’s a tale of two job markets: secure for job holders, recession-like for job seekers.
The big question: How long will the Fed be on hold?
Bankrate analyzed the Fed’s historic rate moves for clues on what might come next.
The U.S. may dodge a recession, but experts aren’t denying it: Something feels off.
Rates could soon be within range of their pre-pandemic peaks. There’s a catch.
Rates are falling, and finance pros say it may be time for Americans to rethink some strategies.
Powell is dealing with the most intense division of his eight years as Fed chair.
Here’s what to skip and what to buy — and how to tariff-proof your budget.
It’s a tale of two job markets: secure for job holders, recession-like for job seekers.
The trusted provider of accurate rates and financial information