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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

“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

Here’s why the Fed likely won’t cut interest rates like Trump wants this month

Inflation has been tame despite tariffs, but the Fed still isn't ready to declare mission accomplished.
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.

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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

Mark Hamrick Arrow Right Icon

Senior Economic Analyst

Latest articles

Jerome Powell testifies before a Senate Committee
Experts expect Treasury yields to increase over the next 12 months as the Fed hikes rates following the pandemic.
Federal Reserve Chair Jerome Powell speaks with journalists at a post-meeting press conference
The move marks an end to the Fed’s most aggressive economic rescue effort in history.
Federal Reserve Eccles Building in Washington, D.C.
The Fed’s unconventional tool for fending off recession is being wound down.
President Joe Biden stands behind Federal Reserve Chair Jerome Powell at the announcement of his renomination
Consumers are bracing for a longer stretch of high inflation. But when can it be expected to slow down?
Federal Reserve Chair Jerome Powell speaks with lawmakers at a congressional testimony
Officials are sounding the alarm that they’re running the economy too hot.
the change drawer of the cash register at Symbiote Collectibles in West Reading, PA
The coin shortage in the U.S. continues to be an inconvenience for many.
A cargo ship moves towards the Bayonne Bridge as it heads into port in New Jersey
The principle can sometimes predict where inflation is heading.
Supermarket staff work at a grocery store in medical protective mask
Employers should also restore just about all of their pandemic-related job cuts.
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.
Illustration of a US Federal Reserve ink stamp
Every financial decision you make is impacted by the Federal Reserve.
Image of Jerome Powell on a blue background.
Tariffs haven’t created much inflation. You still won’t hear the Fed say all clear.
young man falling out of the sky along with various household items and cash
You might not feel better about inflation because prices are still up post-pandemic.
Woman reaching in to the air for cash
Prices rise and fall all the time in the U.S. economy. It’s not always inflation.
Image of former St. Louis Fed president, Jim Bullard
Powell is concerned tariffs could lead to more inflation. This former Fed official has a different view.
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.
Federal Reserve Chair Jerome Powell.
The Federal Reserve announced that it’s holding interest rates steady following its March 18-19 meeting.
Image of Jerome Powell on a blue background.
Tariffs haven’t created much inflation. You still won’t hear the Fed say all clear.
young man falling out of the sky along with various household items and cash
You might not feel better about inflation because prices are still up post-pandemic.
Image of former St. Louis Fed president, Jim Bullard
Powell is concerned tariffs could lead to more inflation. This former Fed official has a different view.
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