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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.

Experts in all things finance

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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

Federal Reserve Chair Powell at a podium
As the job market weakens, some economists say the Fed should’ve cut rates already.
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The Federal Reserve is poised to cut rates in September. Will it be enough to entice homebuyers?
Jerome Powell speaking at a podium
These policymakers will influence the crucial debate of when to cut interest rates.
woman using laptop in the kitchen
These tips can help maximize your savings using certificates of deposit.
The most common sign of financial success is living comfortably, Americans say.
Federal Reserve seal
Now a cornerstone of Fed policy, the balance sheet has big implications for your wallet.
Federal Reserve Bank Chair Jerome Powell at the Fed's post-meeting press conference
The Fed hopes to prevent major market disruptions that could cause rates to spike.
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Overdraft protection can be a helpful and convenient tool to avoid paying a steeper overdraft fee.
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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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