While Federal Reserve decisions can influence savings account rates, the impact varies significantly between banks and credit unions. By understanding this relationship and actively managing your savings strategy, you can maximize your returns regardless of the current rate environment.

While the Federal Reserve cut interest rates by a quarter of a percentage point on Wednesday, Eric Diton, president and managing director of The Wealth Alliance, notes that only one rate cut is planne...

"The Committee is attentive to the risks to both sides of its dual mandate and judges that downside risks to employment have risen," the Fed said in its policy statement.