November 2, 2023
Will CD Rates Climb Higher? The Clues in Today’s Fed Announcement
- The Federal Reserve announced today that, for a second meeting in a row, it’s maintaining interest rates at the current level.
- The rate-hold decision was overwhelmingly expected, so it was no surprise to banks and credit unions.
- The Fed left the door open to a future rate hike if inflation doesn’t come down sufficiently and reliably.
- The best CD rates are already at their highest level in 20 years—up to a record 6.50% APY. But they could still move higher if the Fed…