The Federal Reserve's latest economic forecasts suggest that interest rates will remain near zero at least through 2023, in hopes to bring the economy back to full strength.
Low interest rates come with pros and cons. For those saving their retirement assets in the bank, low interest rates make it difficult to keep up with taxes and inflation.
However, if you're looking to borrow money, these low interest rates offer the opportunity to finance large purchases at much lower costs, which can potentially save you thousands of dollars over the term of the loan.
It's important to keep these low interest rates in mind when planning your future!