Fed Holds Interest Rates Steady, Warns Another Hike May Follow

The Federal Reserve has decided to hold interest rates steady for now, but experts warn that another rate hike could still happen before the end of 2026. According to Jared Elson, president and CEO of Authentikos Advisory, the Fed may raise interest rates by a quarter point as soon as September.

This means that borrowers should be prepared for higher costs on credit cards, loans, and other variable-rate debt. Elson suggests reviewing debt and savings options to see where costs can be decreased or investments made in the current rate environment.

While higher rates can hurt borrowers, they also benefit savers. Elson notes that there has not been a better time in the past 20 years to consider safer options like CDs and high-yield savings accounts.