The Fed leaves its key interest rate as is. Here’s how you can benefit
CNN
The Trump administration’s tariffs regime has disrupted markets, darkened the outlook for employers and businesses and hammered consumer sentiment.
The Trump administration’s tariffs regime has disrupted markets, darkened the outlook for employers and businesses and hammered consumer sentiment. That’s why it’s more important than ever to take control of what you can financially. That can start with making sure your savings are earning the best returns possible and are parked in the right types of accounts, given your needs and time horizon. Since the Federal Reserve on Wednesday decided not to lower its key overnight lending rate, which affects interest rates throughout the economy, you can still earn a very healthy yield on your cash. That’s good news since economists believe inflation — which came in at 2.3% in March – will be going up this year as a result of the tariffs. By how much? Joe Brusuelas, chief economist at RSM US, told CNN’s Alicia Wallace he expects both headline and core inflation to top 4% later this year. So you’ll want to look for returns on your cash that can match or beat that expectation. For money you’re setting aside for emergencies or for near-term but not immediate cash-flow needs, consider using:
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