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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.

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What to expect from the next Fed meeting
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How the Fed impacts your wallet
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The Fed’s interest rate history
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What is the Fed?

The latest on the Fed from Bankrate’s experts

“The biggest question now is how the Federal Reserve will respond to mounting concerns about the ongoing government shutdown, its risks to the economy and how it may influence future policy decisions.”

– Stephen Kates, CFP
Decorative image

The Fed Cut Interest Rates Again. Here’s How Your Wallet Could Feel It.

The Federal Reserve cut interest rates for the second straight meeting, a sign that officials are more focused on safeguarding the job market and shielding the economy from a recession than reining in rising inflation.
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.

Mortgage rates

This week's mortgage news

Savings rates

What is the average interest rate for savings accounts?

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This week's outlook for CD interest rates

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Current car loan interest rates

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This week's HELOC news and analysis

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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

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Sarah Foster

Sarah Foster Arrow Right Icon

Principal U.S. Economy Reporter

Mark Hamrick

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Senior Economic Analyst

Editor's picks

Jerome Powell, chairman of the US Federal Reserve, during the National Association of Business Economics (NABE) annual meeting in Philadelphia, Pennsylvania.

The Fed makes a second interest rate cut. Here’s what will — and won’t — change for your money.

8 min read

Federal Reserve Eccles Building illustration

Fed’s interest rate history: The federal funds rate from 1981 to the present

13 min read

Illustration of Fed Chair Jerome Powell speaking at a podium at the Fed's post-meeting press conference.

Rescue the job market or stop inflation? A rate cut from the Fed this week could hit your wallet — and your paycheck

5 min read

Illustration of Fed Chair Jerome Powell

The U.S. economy is slowing — and the nation’s top economists don’t expect it to improve much over the next year

7 min read

Illustration of workers and small business owners in front of a briefcase

Economists are realizing the job market is cooling. Workers have known it for months.

10 min read

Banking

Survey: The most workers in four years say their pay isn’t keeping up with inflation

11 min read

Banking

Biggest winners and losers from the Fed’s latest meeting

4 min read

Banking

How the Federal Reserve impacts savings account interest rates

4 min read

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Latest articles

How the Federal Reserve affects HELOCs and home equity loans

If you’re looking at HE loans or have a variable-rate line of credit, pay attention to the Fed.
Oct 29, 2025
Jerome Powell, chairman of the US Federal Reserve, during the National Association of Business Economics (NABE) annual meeting in Philadelphia, Pennsylvania.

The Fed makes a second interest rate cut. Here’s what will — and won’t — change for your money.

Borrowers often don’t notice small rate cuts, and a weakening economy could dull the relief.
Oct 29, 2025
A Black couple talk to a salesperson at a car dealership.

When will car interest rates start dropping?

Auto rates will likely not decrease this year. Consider how to still save.
Oct 29, 2025

How does the Federal Reserve affect mortgages?

The Federal Reserve’s decisions have ripple effects, including for mortgages.
Oct 29, 2025
Exterior of Federal Reserve building

How does the Fed interest rate affect car loans?

Does the Fed interest rate affect car loans? Yes, it does: It has a domino effect that can raise or lower auto loan rates.
Oct 29, 2025
Outside of the Federal Reserve building

How the Federal Reserve impacts personal loans

The Federal Reserve just lowered interest rates for the first time in four years.
Oct 29, 2025
Federal Reserve Eccles Building illustration

Fed’s interest rate history: The federal funds rate from 1981 to the present

Bankrate analyzed the Fed’s historic rate moves for clues on what might come next.
Oct 29, 2025
Jerome Powell, chairman of the US Federal Reserve, arrives for the Federal Reserve Board open meeting in Washington, DC, Oct. 24, 2025.

What do the Fed’s rate cuts mean for stocks, crypto and other investments?

The best way for most investors to approach this type of market is to stick to their long-term plan.
Oct 29, 2025
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Jerome Powell, chairman of the US Federal Reserve, during the National Association of Business Economics (NABE) annual meeting in Philadelphia, Pennsylvania.

The Fed makes a second interest rate cut. Here’s what will — and won’t — change for your money.

Borrowers often don’t notice small rate cuts, and a weakening economy could dull the relief.
Oct 29, 2025
Federal Reserve Eccles Building illustration

Fed’s interest rate history: The federal funds rate from 1981 to the present

Bankrate analyzed the Fed’s historic rate moves for clues on what might come next.
Oct 29, 2025
Illustration of a US Federal Reserve ink stamp

6 key ways the Federal Reserve impacts your money

Every financial decision you make is impacted by the Federal Reserve.
Oct 27, 2025
Illustration of Fed Chair Jerome Powell speaking at a podium at the Fed's post-meeting press conference.

Rescue the job market or stop inflation? A rate cut from the Fed this week could hit your wallet — and your paycheck

Officials are cutting rates to shore up the job market, but it’s not without risk.
Oct 27, 2025
Woman reaching in to the air for cash

What is inflation? Here’s how rising prices can erode your purchasing power

Prices rise and fall all the time in the U.S. economy. It’s not always inflation.
Oct 24, 2025
Image of Jerome Powell

The Fed just cut rates, but don’t expect it to help much. Try these 6 moves instead.

Rate cuts usually help your budget. This time, the impact may be barely noticeable.
Sep 17, 2025
Image of Jerome Powell speaking from the Federal Reserve podium.

The Fed looks set to cut rates this week. What comes next is unclear as stagflation fears rise.

A tough mix of rising prices and weak hiring is leaving the Fed with no easy way out.
Sep 14, 2025
Image of a torn apart one hundred U.S. dollar bill with a red jagged graph line running through the the torn pieces.

Four years after inflation first spiked, Americans’ wages are still falling behind — and a slower job market isn’t helping

Workers still have less purchasing power today than at the beginning of 2021.
Aug 18, 2025
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Jerome Powell, chairman of the US Federal Reserve, during the National Association of Business Economics (NABE) annual meeting in Philadelphia, Pennsylvania.

The Fed makes a second interest rate cut. Here’s what will — and won’t — change for your money.

Borrowers often don’t notice small rate cuts, and a weakening economy could dull the relief.
Oct 29, 2025
Federal Reserve Eccles Building illustration

Fed’s interest rate history: The federal funds rate from 1981 to the present

Bankrate analyzed the Fed’s historic rate moves for clues on what might come next.
Oct 29, 2025
Illustration of Fed Chair Jerome Powell speaking at a podium at the Fed's post-meeting press conference.

Rescue the job market or stop inflation? A rate cut from the Fed this week could hit your wallet — and your paycheck

Officials are cutting rates to shore up the job market, but it’s not without risk.
Oct 27, 2025
Illustration of Fed Chair Jerome Powell

The U.S. economy is slowing — and the nation’s top economists don’t expect it to improve much over the next year

See what the nation’s top economists are forecasting in Bankrate’s Q3 survey.
Oct 23, 2025
Illustration of workers and small business owners in front of a briefcase

Economists are realizing the job market is cooling. Workers have known it for months.

Before data started to show that the job market was slowing, cracks appeared in people’s lives first.
Oct 22, 2025
Illustration of worker juggling dollar bills over a background of a line signifying rising inflation

Survey: The most workers in four years say their pay isn’t keeping up with inflation

A record 62% say pay hasn’t kept up with costs, climbing from 55% in 2022.
Oct 14, 2025
Federal Reserve Chair Jerome Powell.

Biggest winners and losers from the Fed’s latest meeting

The Federal Reserve announced that it’s holding interest rates steady following its March 18-19 meeting.
Sep 22, 2025
Women using digital tablet to check her finances at home office

How the Federal Reserve impacts savings account interest rates

For savers, here’s what to consider when the Fed lowers interest rates.
Sep 17, 2025
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