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 0.57%. Enter an APY to see how much you can save, or choose an APY from one of our partners.

    Latest articles

    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.
    If you’re looking at HE Loans or have a variable-rate line of credit, pay attention to the Fed.
    New Friends Walking on University Campus
    The Federal Reserve’s actions can influence student loan interest rates.
    The Federal Reserve’s decisions have ripple effects, including for mortgages.
    Exterior of Federal Reserve building
    Does the Fed interest rate affect car loans? Yes, it does: It has a domino effect that can raise or lower auto loan rates.
    Federal Reserve Eccles Building illustration
    Bankrate analyzed the Fed’s historic rate moves for clues on what might come next.
    People walking back and forth in front of Capital One Bank entrance.
    A CFPB lawsuit claims Capital One underpaid savings account interest by $2 billion.
    A couple budgets together.
    Bankrate offers 18 ideas for stretching your budget to save money.
    Illustration of Fed Chair Jerome Powell with money around him.
    Surveyed economists predict lower recession odds — but higher inflation — for 2025.
    You can find a CD account that significantly out-earns the national average if you shop around among banks.
    A graphic of origami of a dollar bill folded to look like a piggy bank with a penny on top.
    Expect savings and money market account yields to slide lower, but they still should outpace inflation
    IRS building
    Taxes on CD interest aren’t always clear-cut. Here’s what you need to know.
    signage outside the federal deposit insurance corporation headquarters
    Worried about losing money held at a bank? Here’s what to know about FDIC insurance.
    A woman wearing a facemask enters a building where the Employment Development Department has its offices in Los Angeles, California on May 4, 2020, past a posted sign mentioning the closure of the offices's public access counters due to the coronavirus pandemic. - Dismal US employment figures are expected with the release Friday May 8 of figures for April's US jobs report, with 30 million Americans filing for unemployment in the last six weeks.
    Overwhelmed state unemployment offices have left Americans without aid for weeks, if not longer.
    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.
    If you’re looking at HE Loans or have a variable-rate line of credit, pay attention to the Fed.
    New Friends Walking on University Campus
    The Federal Reserve’s actions can influence student loan interest rates.
    The Federal Reserve’s decisions have ripple effects, including for mortgages.
    Exterior of Federal Reserve building
    Does the Fed interest rate affect car loans? Yes, it does: It has a domino effect that can raise or lower auto loan rates.
    Federal Reserve Eccles Building illustration
    Bankrate analyzed the Fed’s historic rate moves for clues on what might come next.
    The trusted provider of accurate rates and financial information
    Wall Street Journal
    Usa Today
    New York Times
    Cnn
    Bloomberg
    Abc