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The Federal Reserve held interest rates steady at its June meeting, a decision that sends a clear signal to consumers on both sides of the borrowing-and-saving ledger.
For anyone carrying a credit card balance, financing a car, holding a savings account, or tracking mortgage costs, the Fed's June call ripples directly into household finances.
Credit Cards: Elevated Rates Stay Put Credit card interest rates move in close step with the Federal Reserve's benchmark rate.
When the Fed holds, card issuers have no pressure to adjust, meaning borrowers carrying a balance from month to month will continue to pay at the rates already in place.
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