Karen Bennett

1 month ago | bankrate.com | Karen Bennett |Marc A. Wojno

The Federal Reserve held its federal funds rate steady last week, marking the third straight meeting the rate has remained unchanged. The Fed’s rate pause could mean stability for high-yield savings account APYs. The top-yielding savings account rate holds steady this week at 4.40 percent APY, available from Openbank.

1 month ago | bankrate.com | Karen Bennett |Kristen Kuchar

The current leading CD rate across terms is 4.41 percent APY, offered for a six-month CD. National averages are significantly lower than top rates, so it pays to shop around. The Federal Reserve has held its benchmark rate steady in 2025, and competitive APYs remain higher than they’ve been in decades, outside the current rate cycle. Like a savings account, a certificate of deposit (CD) is an account where you can stash some of your savings, usually risk free, and earn a nominal amount of interest.

1 month ago | bankrate.com | Karen Bennett |Kristen Kuchar

While many bank failures have occurred during recessions, your money is safe at all times at a financial institution that’s backed by federal deposit insurance. When your funds are with an FDIC-insured bank, they’re guaranteed safe when your balance is within the set limits and guidelines. The FDIC insures deposits up to $250,000 per depositor, per FDIC-insured bank, per account ownership category.

1 month ago | bankrate.com | Sarah Foster |Chris Kahn |Greg McBride |Karen Bennett

Fearing higher inflation from tariffs, the FOMC is likely to keep rate cuts on holdRecession fears are rising, consumer sentiment is plummeting, and markets over the past few weeks have been bumpy. You might be wondering: Why is everyone saying the Fed won’t cut interest rates today? I’m Sarah Foster, Bankrate’s U.S. economy and Federal Reserve reporter.

2 months ago | bankrate.com | Karen Bennett |Yuliya Goldshteyn

The annual rate of inflation has reached its lowest level in four years, according to the consumer price index (CPI) report released Thursday. The 12-month inflation rate decreased in March to 2.4 percent from February’s rate of 2.8 percent. Prices fell on gasoline, used cars and trucks, auto insurance, airfare and recreation. Meanwhile, prices rose on food, medical care, new vehicles and clothing. These numbers don’t include any potential fallout from President Donald Trump’s trade tariffs.