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Will Trump's Tariffs Push Savings and CD Rates Lower? Or Higher?

general :: 2025-04-09 :: source - investopedia

By Sabrina Karl

bmanzurova / Getty Images

The No. 1 Factor Impacting Bank Rates

The Federal Reserve's benchmark interest rate, the federal funds rate, can be raised and lowered by the central bank to both fight inflation and manage the economy's growth. This rate is important to everyday savers because it directly influences the interest rates that banks and credit unions pay on savings and money market accounts, as well as certificates of deposit (CDs).

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