The Fed’s goal is taminginflation, which is showing signs of cooling.
But now experts are concerned about tariffs' impact on inflation and the possibility of a recession this year.
Tariffs could drive inflation and prices back up.
Patel pointed out that inflation is not only a driving factor to the Fed’s policies.
It’s also a major concern for your short- and long-term goals.
Certified financial plannerBobbi Rebellagrees.
“Fear does drive financial decisions even if it shouldn’t.
The average savings rate is 4.08% APY based on CNET’s weekly tracking.
However, there are withdrawal limitations.
The possibility of a recession can influence how people allocate their money and prioritize savings goals, Rebell said.
You may be worried about job security or squeezing more out of your budget to afford everyday essentials.
Maximize your interest earnings while there’s still time.
