What the Fed's rate pause means for your money

Breakdown

• The Federal Reserve has kept interest rates steady for the fifth consecutive time. 8s
• Borrowers face high interest rates on credit cards, car loans, and personal loans. 24s
• Savers benefit from higher rates on savings accounts and CDs, ranging from 3.5 to 4.5 percent. 1m 10s
• The Fed is holding rates steady due to concerns about inflation. 1m 37s
• Despite slowing inflation, overall prices remain high and economic growth has slowed. 2m 8s