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? Find out what the experts think.
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

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.

Latest articles

cityscape with a Wall Street sign in the foreground
Storm clouds are gathering above the economy amid high inflation and interest rates.
lawn of a house with a for rent sign in the yard
That’s even despite the Fed’s fastest rate hikes since the 1980s.
The Dow Jones ticker in Times Square displays news about the Dow closing below 8,000 at the end of the trading day in New York, U.S., on Wednesday, Nov. 19, 2008.
There are lessons to be learned from 2008-2009.
People walking out of the subway station at Wall Street
Feeling deprived during lockdowns, Americans aren’t ready to fall back on progress.
Federal Reserve Chair Jerome Powell speaks with journalists after the Fed's July meeting.
Not since the 1980s have officials raised rates this much in a single year.
front of a government building
What the Fed news really means: a demystification of Fed terms.
Custom visual illustration of an emergency savings
Skyrocketing costs are causing a major hit to Americans’ financial security.
Prestigious government building with busy city life in front of it
You might not be able to call rates historically low for much longer.
A man uses his phone at an ATM.
Here’s how to use your smartphone — rather than a bank card — at an ATM.
Federal Reserve Chair Powell Holds A News Conference Following The Federal Open Market Committee Meeting
Emergency rate cuts are rare, but some economists believe one may be coming soon.
Traders work on the floor of the New York Stock Exchange
It isn’t always about two consecutive quarters of negative GDP growth.
father working on finances with his daughter sitting next to him
This budgeting rule of thumb can help make tracking everyday spending easier.
Federal Reserve Chair Powell at a podium
As the job market weakens, some economists say the Fed should’ve cut rates already.
People walk by a Western Union location in New York.
Wire transfer fees can be expensive, but here are ways to send money for less.
Financial manager meeting with couple in bank branch office
Get the latest rates on top-yielding money market accounts.
Whimsical illustration of a hand putting a quarter into a miniature but realistic high end safe. As if it were a piggy bank
Comparing savings rates can ensure you get the best return on your savings.
Traders work on the floor of the New York Stock Exchange
It isn’t always about two consecutive quarters of negative GDP growth.
Federal Reserve Chair Powell at a podium
As the job market weakens, some economists say the Fed should’ve cut rates already.
If you’re looking at HE loans or have a variable-rate line of credit, pay attention to the Fed.
The Federal Reserve’s decisions have ripple effects, including for mortgages.
Calm focused female freelancer in casual clothes revising reports while sitting on soft couch at table and using computer in light contemporary apartment
Subprime borrowers are particularly affected by interest rate changes. Here’s how to prepare.
Portrait of a happy woman smiling outdoors and looking thoughtful
The Federal Reserve is poised to cut rates in September. Will it be enough to entice homebuyers?
Student walking through college campus.
The Federal Reserve’s actions can influence student loan interest rates.
Outside of the Federal Reserve building
The Federal Reserve raised interest rates several times. These interest rate changes are likely to affect the rates of personal loans.
The trusted provider of accurate rates and financial information
Wall Street Journal
USA Today
The New York Times
CNN
Bloomberg
ABC