Finally. The Federal Reserve delivered a long-awaited quarter-point rate cut on Sept. 17. Wall Street expects two more rate cuts at both of the Fed's next meetings before the end of the year. Here's how the long-running interest rate pause has impacted deposits, credit, and debt so far. And what a rate cut could do for — or to — your money. How a Fed rate cut affects checking and savings accounts 2025 has been a year of modest earnings on deposit accounts. A rate cut won't help. Checking accounts Yo ...