4 Money Moves You Should Make Now While the Fed Holds Rates High

Federal Reserve decisions have a real effect on your money. A few simple steps can help you get the biggest benefit. Maria Forbes/Getty Images The Federal Reserve paused rates this week, the third time it's done so this year. That may not sound too exciting, but it's worth paying attention to because it has real consequences for your finances. The central bank's decisions affect everything from how much you pay on outstanding debt to how fast your savings grow. By making some smart moves now, you can get the biggest benefit from its latest rate pause. Read more: Fed Meeting Keeps Interest Rates High Why That Is a Big Deal for Your Finances Make these 4 money moves now Make the most of the Fed's pause by doing these things now. ✅ Open a certificate of deposit Banks tend to follow the Fed's lead when setting CD rates. A rate pause means there's still time to score a high annual percentage yield on a CD. APYs have been falling even with rates paused, so if you're thinking of opening ... Read full article.