What the Fed News Means for You, and Choosing a New Bank

The Fed has been in the news a lot lately, raising interest rates and causing recession fears. But what, exactly, do the interest rate hikes mean for various parts of your finances, like your savings and credit cards? We give you the rundown to start off this episode. Then we answer a listener’s money question about how to choose a new bank — including how to find one that fits your family’s needs.  To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com. Timestamps: This Week in Your Money segment: 0:00 - 10:02  Money Question segment: 10:03 - 26:33  Like what you hear? Please leave us a review and tell a friend.