The Federal Reserve and Your Money

The U.S. central bank has lifted interest rates to a 22-year high, impacting how much you pay to borrow money and how much you earn when you save. Get advice and stay informed on what to do with your wallet.

The Fed's impact on your wallet

How the Fed impacts mortgage rates

The Federal Reserve’s decisions have ripple effects, including for mortgages.

What Fed rates mean for housing

The Fed again held steady with no new rate hike at its second meeting of 2024.

How the Fed affects savings rates

For savers, here’s what to consider when the Fed raises interest rates.

The Fed and credit card rates

The Fed continues its fight against inflation, though rates could come down this year.

The latest interest rates

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

As economy slow, mortgage rates retreat

HELOC rates

This week's HELOC news and analysis

Credit card rates

Current credit card interest rates

Auto loan rates

Current car loan interest rates

Savings rates

What is the average interest rate for savings accounts?

CD rates

This week's outlook for CD interest rates

Essential reading

Follow us for the latest financial news:

Greg McBride, CFA Chief financial analyst, Personal Finance

Mark Hamrick Washington Bureau Chief, Senior Economic Analyst

Sarah Foster Principal U.S. Economy and Federal Reserve Reporter

Latest Articles

Fed remains on hold, keeps forecast for three rate cuts in 2024

How will the Fed juggle hotter inflation with a rising unemployment rate?

7 min read Mar 20, 2024
The Federal Reserve’s latest dot plot, explained – and what it says about interest rates

This Fed communication tool is important, but be cautious when interpreting it.

7 min read Mar 20, 2024
What is the Federal Reserve? A guide to the world’s most powerful central bank

The Fed plays a role in influencing every financial decision you make.

12 min read Mar 20, 2024
Should you buy a house during a recession?

How might a recession affect the housing market? Find out what the experts think.

7 min read Mar 11, 2024
Single women homebuyer statistics and tips 2024

The share of single women homebuyers continues to outpace the share of single men in the housing market.

4 min read Mar 08, 2024
Denied and distressed: Half of applicants have been turned down for a loan or financial product since the Fed began raising rates

Americans’ credit woes might not turn around until the Fed eventually cuts rates.

8 min read Mar 04, 2024
Are banks open today? Federal bank holidays in 2024

Knowing bank holiday schedules can help you avoid delays on necessary transactions.

3 min read Feb 19, 2024
The Federal Reserve’s board of governors, explained — who’s on it and what they do

The Fed’s board has a powerful influence over interest rates and monetary policy.

6 min read Jan 30, 2024
When will personal loan interest rates start dropping?

The Federal Reserve has finally shown the signs of a rate plateau. However, interest rates are still breaking records, and it’s not a given that personal loan rates will fall anytime soon. While the [...]

2 min read Jan 09, 2024
Survey: Economists split on whether Fed will cut rates in first or second half of 2024

Will falling inflation make the Fed in a hurry to cut rates?

4 min read Jan 03, 2024
Survey: Inflation is slowing fast but still might not hit the Fed’s target until 2025

Inflation slowed much faster than expected last year, but economists are still wary.

4 min read Jan 03, 2024
Survey: Economists project a milder hiring slowdown than originally expected for 2024

For three straight surveys, economists have upgraded their job market forecasts.

4 min read Jan 03, 2024
Survey: Despite a resilient economy, experts still see a near 1-in-2 chance of a recession

Economists say the risks of a downturn are still high, even as the economy stays strong.

4 min read Jan 03, 2024
Credit card interest rate forecast for 2024: Rates will ease a bit, but remain high

If you have credit card debt, your interest rates are likely to remain high in 2024.

3 min read Jan 02, 2024
CD rates forecast for 2024: Expect banner year for savers with strong yields, lower inflation rate

You can find a CD account that significantly out-earns the national average if you shop around among banks.

3 min read Jan 02, 2024
Regulation D and savings account withdrawal limits – here’s what changed

How Reg. D impacts your savings account and why it pays to check with your bank.

5 min read Dec 20, 2023
What is the Federal Open Market Committee (FOMC)? Meet the key policymakers shaping your finances

The Fed has lifted rates 11 times. These policymakers are behind those decisions.

5 min read Dec 18, 2023
Survey: Nearly two-thirds of Americans don’t expect their personal finances to improve in 2024

The biggest reason behind Americans’ financial pessimism continues to be inflation.

7 min read Dec 18, 2023
Fed keeps interest rates unchanged, sees cuts coming in 2024

The decision adds to suspicions that officials are done raising rates.

10 min read Dec 13, 2023
Will the Fed raise interest rates one more time this year? Some economists aren’t convinced

Experts are doubting the Fed’s September projections that showed one more rate hike.

9 min read Nov 08, 2023

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