Bankrate's experts are reacting live to the Federal Reserve's June interest rate decision

Bankrate has been the top source for information on interest rates and the Federal Reserve since its inception in 1976. Follow along to see what our expert staff of reporters, writers, editors and financial analysts are watching.

The 5 most important themes to know ahead of today's Fed meeting

Despite pressure from President Donald Trump and other members of his administration, the Fed is not expected to cut borrowing costs today - meaning the key interest rate that influences how much you pay to finance big-ticket purchases should stay at a decade-plus high.

Fed officials are likely to keep rates unchanged because they're worried that tariffs could eventually push up inflation, though prices haven't surged the way many economists expected they would after Trump lifted tariffs in April to the highest level since the Great Depression.

Why haven't tariffs pushed up inflation yet? Many economists still assume that those price hikes are coming, but they might take a bit longer because businesses stocked up on imports before tariffs went into effect to avoid paying higher duties. Once those inventories wear thin, they might have no choice but to lift prices.

All the while, the U.S. economy is flashing early warning signs of a slowdown, with job growth slowing, workers taking longer to find new positions and employers hiring workers at a rate even slower than before the pandemic. Had the Fed not been concerned about tariffs, policymakers might've decided to cut rates by now to help prevent the slowdown from evolving into something more dangerous: a recession.

If you're wondering what to do with your money ahead of the Fed's next meeting, consider prioritizing two goals: recession-proofing your wallet and eliminating all of the ways high interest rates can hurt you. That means finding ways to pad your emergency fund -- and eliminating any high-interest rate debt that might be saddling your wallet.

Sarah Foster

U.S. Economy Reporter and Analyst

Expertise

o

Economy

o

Federal Reserve

8 Years of experience

Reporter and analyst Sarah Foster covers the Federal Reserve, the U.S. economy and economic policy for Bankrate, where she helps readers understand how the world's most powerful policymakers in Washington, D.C., impact their personal finances. She's covered the Federal Reserve and U.S. economy since 2018, when she joined the economics news team at Bloomberg News.

Read more

Connect with Sarah Foster on Twitter

Connect with Sarah Foster on LinkedIn

Get in contact with Sarah Foster via Email

Sarah Foster

6/18/2025, 7:00 AM EDT

Edit Update

The Fed will announce its next interest rate decision today. Here's how to tune in.

It's Fed Day! Policymakers are likely going to keep their key borrowing benchmark at a decade-plus high for another month. No one I've talked to over the past few weeks expects that the Fed will cut rates today. Neither do investors.

Even the very policymakers who decide what to do with interest rates have implied in public appearances leading up to today's meeting that they're not ready to make a rate cut. They need more time to watch and study the data -- and they think they have the time to be patient. Although the job market is showing signs of a slowdown, the nation's unemployment rate remains near historic lows. The Fed's utmost priority: Making sure that tariffs don't lead to another inflation spiral.

But our goal today is parsing through the Fed's many statements to help you determine when the next cut might be -- and if it could occur as soon as the Fed's next rate-setting meeting in July.

Here's the schedule of events:

At 2 p.m. ET, the Federal Open Market Committee (FOMC) will announce its next interest rate decision.

Also at 2 p.m., the Fed will also update consumers and inventors on where they see interest rates and economic growth (think: unemployment, gross domestic product, inflation and more) heading through the rest of this year -- and beyond. Here's an explainer on how to read it.

At 2:30 p.m., Fed Chair Jerome Powell will take questions from reporters (including us at Bankrate!) at a press conference in Washington, D.C.

Check back for updates throughout the day, as we break down what you need to know ahead of the Fed's announcement -- and help you understand what it means for you.

Live coverage contributors

Sarah

Foster