Federal Reserve Bank

More cardholders are carrying more credit card debt than ever before, and, on top of that, they’re paying record high interest rates.

Interest rates may seem abstract, but they affect everyone. CNBC Make It examines the role they play in your finances.

If it seems like lottery jackpots topping $1 billion are more common nowadays, it’s because they are.

Everything from mortgages and credit cards to student and car loans has been affected by the Federal Reserve’s rate hike cycle.

The Federal Reserve’s expected move Wednesday to raise interest rates for the 11th time could once again send ripple effects across the economy. Perhaps no one has felt the pain more than car buyers. It’s not just that sticker prices are way up. Or that lenders have tightened credit standards. On top of all that, steadily higher auto loan rates...

The Federal Reserve launched a new instant payment service Thursday. FedNow allows banks and credit unions to sign up to send real-time payments so they can offer customers a quicker way to send money between banks.

The U.S. central bank has indicated another increase in interest rates is coming as it tries to further ease inflation.  

The system will be available 24 hours, seven days a week and is open to interested banks and credit unions.

Noting that inflation has cooled but “remains well above” the Fed’s 2% target, Powell said the central bank still has more work to do.

A senior lecturer from the University of New Haven explains the Federal Reserve’s decision to pause an interest rate hike, and why it’s not expected to last for long.

The Federal Reserve on Wednesday released its decision on interest rates following a two-day meeting.

The Federal Reserve extended its year-long fight against high inflation by raising its key interest rate by a quarter-point despite concerns that higher borrowing rates could worsen the turmoil that has gripped the banking system. Fed Chair Jerome Powell sought to reassure Americans that it is safe to leave money in their banks, two weeks after a rush of depositors...

The fed said banks had borrowed about $300 billion in emergency funding in the past week. So will ordinary Americans end up paying for it, one way or another?

The Fed’s seventh rate hike this year will make it even costlier for consumers and businesses to borrow for homes, autos and other purchases.