Most people pay little attention to the Federal Reserve and monetary policy. But they have an outsized impact on your bank accounts.

The Federal Reserve left interest rates unchanged on January 29, and an interest rate cut is unlikely when the Fed issues its next policy decision on March 19, 2025.

The Federal Reserve’s decision on Wednesday to keep its overnight bank lending rate where it is — following a full percentage point cut last year — means you still have an opportunity to enjoy solid,

A spike in energy prices helped to lift the headline PCE price index in December. The combined cost of gasoline, electricity, and other energy goods and services jumped 2.7% durin

It's important to understand that the Fed's decision to pause rate cuts will not directly impact mortgage rates. Mortgage rates are actually driven by a range of factors, including the Fed's rate changes. This week's Fed rate decision does, however, have a big influence on where mortgage rates could head.

Consumers and traders are waiting to learn if the Fed’s pause is a one-meeting hold or the start of a longer stretch.

Policy changes: When the Fed adjusts the federal funds rate, it spills over into many aspects of the economy, including mortgage rates. The federal funds rate affects how much it costs banks to borrow money, which in turn affects what banks charge consumers to make a profit.

Brian Jacobsen, chief economist at Annex Wealth, joined TheStreet to discuss what higher for longer rates means for the economy in 2025. Related: Major housing analyst unveils mortgage forecast ahead of Fed meeting CONWAY GITTENS: So,

The Fed has a dual mandate. In addition to stable prices, the central bank is supposed to support maximum employment. With the labor market in "solid" shape, the FOMC has become m