Where Are CD Rates Headed This Year?
Rates on certificates of deposit generally mirror the trend of the federal funds rate, and last week's quarter-point increase by the Federal Reserve has nudged CD rates higher throughout this week. Though deposit rates surged in 2022 as a result of the Fed's aggressive federal funds rate hikes aimed at taming decades-high inflation, this…
This story from investopedia.com was posted on 2023-05-14 by @daydreamr.