The Fed Paused Rates. Here's What That Means for CD and Savings Account APYs
The Fed meets eight times a year to assess the health of the US economy and vote on the federal funds rate, the rate banks use to lend and borrow money. While the Fed's decision to change rates doesn't directly affect savings rates, changes in APYs typically follow. The changes can take several weeks or even months to take effect.
Fed pauses interest rate cuts despite Trump’s call to lower rates ‘immediately’
The Federal Reserve decided to delay additional rate cuts for now and keep interest rates unchanged at its first meeting of the year, giving themselves time to assess whether inflation is cooling and how President Donald Trump’s policies might impact the U.S. economy.
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Despite recent rate cuts, high-yield savings accounts and CDs remain solid savings options.
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With more than three years of experience as a personal finance writer, Jamela Adam simplifies complex money topics to help readers become experts at managing their finances. Her work has been ...
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