What the Fed’s Holding Pattern means for Bank Accounts, Loans, and More

What the Fed rate decision means for bank accounts, CDs, loans, and credit cards The Federal Reserve is still in a holding pattern. At their May 1 meeting, Fed officials again held interest rates unchanged. Now, most Wall Street futures traders aren’t looking for a possible rate cut until November, and even then, the bets are nearly a toss-up. After inflation peaked at 9.1% in June 2022, the Federal Reserve worked to tame consumer prices with a series of 11 interest rate hikes over the ensuing months. With inflation at 3.5% in March, the Fed is in no hurry to…