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What the Fed's rate pause means for your money

CBS America · Recent
CBS America
CBS America
Recent

With interest rates holding steady for the fifth time, Jill Schlesinger explains how it affects credit cards, car loans, mortgages and savings.

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
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