Skip to Main Content

Recession watch

Will the U.S. economy soon be in a recession? It's the trillion-dollar question that even experts don't know the answer to. Here's how to prepare for a potential downturn, and how one could impact you.

Insights from our expert analysts

“Economic uncertainty is a time for reducing debt and boosting savings, not the other way around.”

– Greg McBride, CFA

Do's and don'ts of saving during a recession

To help you navigate saving during a recession, we asked a number of experts what some of the most helpful things to do are, as well as some things you should try to avoid at all costs.
Learn more

Recessions & your money

Illustration of a person holding a house with a rain cloud over it
How might a recession affect the housing market?
A middle-aged couple looks out to the beach from their van
Here are some tips to help make sure your retirement savings are protected in the event of a recession.
Illustration of worker with a brief case
The once-booming labor market is starting to face some trouble.

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

Calculate your savings

Use our Savings Calculator to help you quickly and accurately estimate the growth of your investment. Set a goal and figure out how much you need to save each month to hit the mark.

Months
Years
    Initial DepositTotal Contri...Interest Earned
    Total savings breakdown:
    Interest earned $ 5,803.89
    Total contributions + $24,000
    Initial deposit + $10,000
    Your total savings
    $ 39,803. 89

    The average APY in the U.S. is 0.59%. Enter an APY to see how much you can save, or choose an APY from one of our partners.

    Latest articles

    Gold and silver bars with a golden Bitcoin
    Here’s the upshot: Gold beats Bitcoin as an inflation hedge for a variety of reasons.
    Man handing cloths to cashier
    Overdraft protection can be a helpful and convenient tool to avoid paying a steeper overdraft fee.
    Image of a torn apart one hundred U.S. dollar bill with a red jagged graph line running through the the torn pieces.
    Workers still have less purchasing power today than at the beginning of 2021.
    woman using laptop in the kitchen
    These tips can help maximize your savings using certificates of deposit.
    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.
    A person researches on a laptop.
    Learn when a CD is worth it, when it is not, and alternatives to consider in 2025.
    It just might be. But don’t forget the fundamentals of how home equity loans work.
    US-ECONOMY-FEDERAL RESERVE-RATE-POWELL
    The Fed’s rate hold means loans costs are sticking. Here’s what it means for your business.
    Now hiring sign in a shop window
    Job growth is expected to be nearly 10 times slower this year than it was last year.
    Jerome Powell walking across a stage
    Economists expect more rate hikes than the Fed itself.
    Traders work on the floor of the New York Stock Exchange
    Experts say no other downturn has been so widely predicted.
    Wells Fargo sign
    Wells Fargo to pay $3.7 billion to resolve allegations involving illegal fees.
    Federal Reserve Chair Jerome Powell speaks at a post-meeting press conference
    The Fed’s inflation fight is far from over.
    A middle aged adult woman happily balancing her checkbook
    Here’s what separates a share draft account from a checking account.
    Young mother with toddler
    Should you keep money you need access to in a no-penalty CD or in a savings account?
    Financial planner helping couple
    Community development financial institutions provide banking with a purpose.
    Man handing cloths to cashier
    Overdraft protection can be a helpful and convenient tool to avoid paying a steeper overdraft fee.
    Image of a torn apart one hundred U.S. dollar bill with a red jagged graph line running through the the torn pieces.
    Workers still have less purchasing power today than at the beginning of 2021.
    woman using laptop in the kitchen
    These tips can help maximize your savings using certificates of deposit.
    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.
    A person researches on a laptop.
    Learn when a CD is worth it, when it is not, and alternatives to consider in 2025.
    It just might be. But don’t forget the fundamentals of how home equity loans work.
    US-ECONOMY-FEDERAL RESERVE-RATE-POWELL
    The Fed’s rate hold means loans costs are sticking. Here’s what it means for your business.
    Federal Reserve Chair Powell Holds Press Conference On Interest Rates
    Bankrate’s experts are reacting live to the Fed’s latest interest rate decision.
    The trusted provider of accurate rates and financial information
    Wall Street Journal
    Usa Today
    New York Times
    Cnn
    Bloomberg
    Abc