The Fed meets eight times a year to assess the health of the US economy and vote on the federal funds rate, the rate banks use to lend and borrow money. While the Fed's decision to change rates doesn't directly affect savings rates, changes in APYs typically follow. The changes can take several weeks or even months to take effect.

Open a new bank account today and earn a top interest rate. Our experts have researched the best rates on checking, savings, and CD accounts to help you maximize your earnings.

While you might not be able to withstand inflation's impacts directly, there are ways to cushion your money to reduce its effect. And one of the best op

High-yield savings accounts still offer high rates when compared to historic interest rates. Find out when it's still better to use a checking account.