What does this mean for you | Real Time Headlines

this Fed Announced on Wednesday to leave interest rate As the inflation rate continues to surpass 2 % of Fed’s authority, it remains unchanged.

This is after the central bank Reduce the benchmark interest rate Last year and the president reached a complete percentage point Donald Trump‘ Comment During his first week of his office, he would “ask for interest immediately.”

up to date CNBC Federal Reserve Survey The expectations of only two tax rates later this year, the number of numbers is the same Fed officials are engraved in the recent forecastEssence

“Although the concerns of inflation have greatly reduced the concerns of inflation, Michele Raneri, vice president and person in charge of the US research and consulting company, still exists.” Therefore, the reduction rate next year is likely to be reduced compared with expectations a few months ago. “” “

Consumers who struggle at high prices and high weights Borrowing feeThis means that it is coming. This also means that Trump may go further Challenge the independence of the Federal ReserveEssence

More information from personal financial management:
The IRS announced the beginning of the 2025 tax season
What does the Trump administration mean for your money
Republicans of the House of Representatives strive to extend Trump tax cuts

inflation Since the popularity, it has been a continuous problem, when the price has soared to the highest level since the early 1980s. The Federal Reserve responded at a series of interest rates to increase its benchmark rate to the highest level of more than 22 years.

Trump said during the campaign that inflation and high interest rates are “Destroy our countryEssence “

The federal capital interest rate set by the Central Bank of the United States is the interest rate of bank borrowings and loans. Although it is not a fee paid by consumers, the Fed’s actions are still Affect borrowing and savings rate They see every day.

The surge in interest rates leads to most consumers Borrowing fee In order to surge, many families are under pressure.

Even if the central bank has already begun Reduce the benchmark rate The reduction of speed is more On the horizonBankrate chief financial analyst Greg McBride said that consumers will not see their lending costs drop significantly.

He said: “The reduction of the slowdown will not be large enough or frequently bring you uplifting weightlifting.”

From credit cards and mortgage interest rates to car loans and savings accounts, these interest rates can be carried out in 2025.

In most credit card It has a variable rate and is directly connected to the Fed’s benchmark. After the interest rate hike cycle, the average credit card interest rate rose from 16.34 % in March 2022 to more than 20 % today-close to HistoricEssence

As the central bank decreases interest rates, its annual percentage will continue to decline, but they only reduce the extremely high level. LENDTREE’s chief credit analyst Matt Schulz said that there is only a quarter of a quarter of the deck cut.

He said: “Anyone who wants the federal government to be disappointed with anyone who rescues you from high interest rates.”

Try to consolidate and pay off the high interest credit card through low interest Personal loan Schulz recommends switching to a interest -free balance to transfer credit cards. “0 % balance transfer credit card can be an absolute lifeguard.”

The average interest rate of fixed interest rate mortgage loans now is only 30 years. More than 7 %According to Bankrate.

He said that in the future, McBreid expects that the interest rate of mortgages will “spend most of the year in a range of 6 %.” However, due to the fixed interest rate of most people’s mortgage loans, its rates will not be changed unless re -financing or selling current houses and purchasing another property.

Although Car loan It is fixed, the payment is getting bigger and bigger, Affordable because Car price Together with the interest rate of new loans.

According to the January data of EDMUNDS compiled by CNBC, the average interest rate of new car loans in five years was 5.3 %.

Edmunds consumer viewer Joseph Yoon said: “By indicating that the tax rate is gradually reduced, the speed is gradually reduced. For most new car buyers, the burden of burden may continue to exist. “” “

He said: “The average transaction price of the new car is still close to $ 50,000, which makes the average loan amount reaches a high climax.” “Although the further reduction rate in 2025 can alleviate, the continuous rise in pricing of new vehicles makes it difficult to expect the New Year to expect the New Year Consumers’ burdens can be significantly improved. ”

Federal student loan interest rate It is also fixed, so most borrowers will not be affected by any Fed’s action immediately.

However, undergraduate students who take the direct federal student loan in the 2024-25 school year are paying 6.53 %Increased from 5.50 % in 2023-24. The interest rate of the upcoming school year will be partly based on the May auction 10 -year -old Ministry of Finance NotesEssence

Private student loans often have variable interest rates related to Prime, Treasury vouchers or other interest rate indexes, which means that these borrowers usually pay more interest rates. However, it is different from the benchmark.

In recent years, there have been vertices online Savings The account provided the best return for more than ten years, but still paid nearly 5 % of the income.

“Although the Federal Reserve has reduced the speed of brakes to those with debt, it is gratifying news for savings.” “This means that it is still time to shop for high -yield savings accounts. Of course, you missed the peak period, but there are still many good returns. “