The Federal Reserve and Your Money
Borrowing costs are at a 23-year high thanks to the Federal Reserve's rapid rate hikes. Get advice and stay informed on what to do with your wallet.
The Fed's impact on your wallet
The latest interest rates
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.
As economy slow, mortgage rates retreat
This week's HELOC news and analysis
Current credit card interest rates
Current car loan interest rates
What is the average interest rate for savings accounts?
Essential reading
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Latest Articles
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Should you be worried about inflation? Here’s what the experts are saying
Higher inflation is here, but the big question is whether it’s here to stay or not.
7 min read Jun 11, 2021 -
Savings accounts are still an important part of your financial plan, even in a low-rate environment
The savings account has always been a time-tested standby. Here’s why it still matters.
4 min read Aug 21, 2023 -
Fed sticks with zero interest rates, even as inflation concerns mount
The Fed’s patience could be challenged as the U.S. economy comes roaring back to life.
6 min read Apr 07, 2022 -
3 strategies for savers in a low interest rate environment
Here’s how to respond to lower rates if you’re in the market for a CD or savings account.
2 min read Jul 15, 2022 -
Survey: Top economists see elevated COVID-19 joblessness for at least another year
But the U.S. economy should pick up speed, thanks to fresh fiscal stimulus.
10 min read Mar 31, 2021 -
Fed keeps rates near zero with bounce back from pandemic in sight
The Fed is pledging to keep aggressively supporting the economy, even after the pandemic officially ends.
7 min read Jun 22, 2022 -
Yield curve control, explained: How soon this ‘blank check’ Fed bond-buying program could happen
Here’s how this unconventional policy works to try and keep yields below a certain level.
7 min read Mar 01, 2021 -
Fed keeps rates near zero as economy struggles to recover from pandemic
For consumers, the pros and faults of today’s low-rate world will prevail for months, if not years, to come.
6 min read Jul 28, 2022 -
Fed keeps interest rates at near-zero as coronavirus rebound sputters
The economy is nowhere close to being out of the woods.
6 min read Dec 16, 2020 -
Survey: Rates at zero until 2024, but coronavirus vaccine likely to ‘supercharge’ economy
Consumers should stick to the status quo.
7 min read Dec 16, 2020 -
The Fed’s crisis playbook: 7 ways America’s recession fighters can battle a floundering economy
The Fed has more in its back pocket than just cutting interest rates.
9 min read Nov 18, 2020 -
Fed holds rates near zero as presidential election results remain uncertain
The Fed will continue to stay on the sidelines when it comes to rates.
6 min read Dec 29, 2020 -
Election Day 2020: Is your bank closing early today?
Here’s a look at what a number of popular banks are doing.
2 min read Jun 02, 2021 -
Survey: Top economists see unemployment rate holding above pre-pandemic levels into 2021
While economists were more optimistic, they weren’t without doubts about the risks to the outlook.
7 min read Jan 25, 2023 -
The budget deficit, explained — and how to prepare for a rising tax burden down the road
The financial practice of spending less than you make doesn’t apply to the federal government.
6 min read Aug 18, 2021 -
Here’s what a Trump or Biden presidency would mean for banking
Either way you look at it, there’s going to be some whiplash — possibly weighing on consumers’ wallets.
8 min read Sep 16, 2020 -
When will the U.S. economy get back on track following coronavirus shock? Watch for these 5 signs
The return to normalcy could happen later — rather than sooner.
9 min read Oct 14, 2021 -
How to protect your money from rate decreases with a CD
The Fed’s recent actions may force savers to start thinking differently about their money.
2 min read Jul 28, 2022 -
Ask Bankrate: How can savers stay ahead of inflation?
A reader asks how people living on fixed income can beat inflation.
4 min read Jul 12, 2022 -
Why the coronavirus crisis could cause a double-dip recession — and how to prepare for one
Some forecasts suggest a resurgence in coronavirus cases could tip the financial system over again.
7 min read Oct 21, 2022
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- Historical CD interest rates